Major technology and semiconductor stocks experienced a sharp sell-off this week, driven by a significant revenue miss from IBM and disappointing guidance from Netflix, while rising geopolitical tensions boosted oil and gas companies.
Investors are bracing for a light economic calendar to start the week, with the U.S. Leading Index and two Treasury bill auctions set as the main events for Monday, July 20.
The U.S. aviation regulator will allow Boeing to resume issuing its own airworthiness certificates for 737 MAX and 787 jets, a key milestone signaling renewed confidence in the planemaker's production quality.
Shares of Electronic Design Automation (EDA) leaders Cadence and Synopsys fell sharply after a Chinese AI startup demonstrated a model that autonomously designed a semiconductor chip, challenging the industry's proprietary software business model.
SpaceX's stock price fell by roughly 6% after a last-second abort of its 13th Starship test flight, erasing about $100 billion in market value. The company is now planning another launch attempt for as early as Monday.
Yum Brands' Taco Bell is stopping the use of lettuce from a supplier linked by the FDA to a cyclosporiasis outbreak. The incident places a spotlight on the financial and reputational risks of foodborne illnesses, which have historically had varying impacts on chains like McDonald's and Chipotle.
Shares of the chipmaker fell as investors reacted to a new AI model from a Chinese rival, rising capital expenditure concerns from supplier TSMC, and a broad rotation out of semiconductor stocks.
The U.S. aviation regulator will allow Boeing to resume self-certifying all 737 MAX and 787 aircraft after an eight-month data review confirmed consistent production quality.
Shares of the chip design software giant tumbled after a Chinese AI startup demonstrated a model that designed a functional chip using only open-source tools, posing a direct threat to the company's proprietary software business.
