The S&P 500 climbed 0.72% to 7,537.43, bolstered by gains in Intel and Micron. Momentum in the artificial intelligence sector remained the primary engine for the broader market, even as individual companies faced divergent fortunes. Anthropic and TeraWulf’s $19 billion infrastructure deal drove TeraWulf shares up 4.9%, while Solstice Advanced Materials tumbled over 15% following a $12 billion acquisition announcement.
In section Market Quotes
Wall Street Rallies as AI Sector Braces for High-Stakes Week
Investors returned from the Independence Day break with a clear mandate for tech, pushing the Nasdaq Composite up 1.12% to 26,121.16. The session served as a quiet prelude to a frantic week of market milestones, ranging from the massive SK Hynix listing to SpaceX’s debut on the Nasdaq-100.
Institutional activity remains intense. Funds managing $800 billion are positioning for the SpaceX Nasdaq-100 inclusion, despite a slight dip in the stock on Monday. Meanwhile, the Texas Stock Exchange launched in test mode, initiating a long-term challenge to the established New York and Nasdaq listing duopoly. With Federal Reserve policy shifts and a heavy earnings calendar ahead, the focus turns to Wednesday’s release of Fed minutes under Chairman Kevin Warsh and the impending Friday launch of SK Hynix’s $29 billion U.S. share sale.
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