Wall Street is starting the second half of 2026 with strong bullish sentiment, fueled by the ongoing AI boom and easing inflation concerns as OPEC+ agrees to increase output, causing oil prices to fall. This optimism is reflected in major corporate news, including a massive $28 billion U.S. listing for chipmaker SK Hynix, a potential $3.5 billion defense acquisition by Lockheed Martin, and growing speculation of a mega-merger between Tesla and SpaceX. However, the AI sector also faces challenges with reports of a significant product delay for industry leader Nvidia.

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The upcoming week marks the unofficial start of the second-quarter earnings season and is packed with key economic data, most notably the release of the Federal Reserve's June meeting minutes. Investors will be closely watching reports from consumer bellwethers like PepsiCo and Delta Air Lines for an early indication of consumer health and corporate profitability. Ultimately, forward-looking guidance from executives will be the most critical factor, as markets look for justification for high valuations and confirmation of a strong second half of the year.

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The U.S. is experiencing a hot IPO market, highlighted by the successful debuts of AOL-owner Bending Spoons and e-scooter company Lime, alongside major policy developments including an OpenAI proposal to give the government an equity stake and the Trump administration's decision to seek annual reviews of the USMCA trade pact. In corporate news, General Mills' stock surged after beating profit expectations, while Nike's shares gained on turnaround hopes despite a significant sales slump in China. Looking ahead, all eyes are on the upcoming June jobs report for signals on the economy's health, while in commodities, oil prices have fallen due to easing geopolitical tensions and increased supply.  

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We take a look ahead at the start of Q3 where Wall Street is grappling with an AI-driven market boom, with massive corporate spending on infrastructure fueling record earnings and prompting J.P. Morgan to raise its S&P 500 target to 7,800. This unprecedented investment is also sparking a new wave of inflation by driving up the cost of components and electricity, creating uncertainty over whether the Federal Reserve will raise or cut interest rates. Despite the overall optimism, strategists warn of bubble-like conditions and the risk of a "flash crash" due to "extreme crowding" in speculative AI-related stocks.

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U.S. stock markets surged to record highs yesterday, with the Dow closing above 52,000, as easing geopolitical tensions between the U.S. and Iran prompted a rebound in technology stocks. There was also marked by major corporate restructuring, including Rocket Lab's $8 billion acquisition of Iridium, Comcast's plan to spin off NBCUniversal, and the successful public debut of Honeywell Aerospace. We also saw a report highlighting the rising cost of the leverage fueling the market rally, and a Supreme Court decision reinforcing the Federal Reserve's independence.

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U.S. stock futures are rising, led by the Nasdaq, as market sentiment improves due to an agreement between the United States and Iran to halt hostilities and resume peace talks. This optimism is also fueled by major corporate news, including Comcast's plan to spin off NBCUniversal and a 12% jump in Viridian Therapeutics' shares after an FDA drug approval. However, the technology sector faces a significant shift as U.S. export controls allow competitors like Huawei to overtake Nvidia in China's AI chip market, while uncertainty looms over North American trade with the upcoming review of the USMCA agreement.  

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In the upcoming holiday-shortened week, financial markets will be intensely focused on the U.S. jobs report to gauge the economy's strength and close out a solid first half of the year. This data is critical as it will heavily influence the Federal Reserve's decision on whether to implement a near-term interest rate hike, especially with inflation recently rising above 4%. A strong report could increase the odds of a rate hike, potentially adding more volatility to a market already experiencing significant swings in technology and semiconductor shares.

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A key inflation report hitting a three-year high kept Federal Reserve rate hikes in play, while the corporate world was dominated by the consequences of the AI boom, highlighted by Micron's record earnings and Apple raising prices due to soaring memory chip costs. Major corporate and political developments included OpenAI delaying its IPO amid market volatility, and the president threatening 100% tariffs over digital services taxes. Meanwhile, SpaceX's inclusion in the Nasdaq 100 and Alphabet's addition to the Dow signaled a shift in market indices, as the financial world also marked the passing of former Federal Reserve Chairman Alan Greenspan at the age of 100.

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A key inflation report showed prices hitting a three-year high, keeping Federal Reserve rate hikes in play, while Apple raised MacBook and iPad prices due to soaring memory chip costs driven by the AI boom. Major corporate developments include OpenAI delaying its IPO amid market volatility, JPMorgan resetting its long-term succession plan as CEO Jamie Dimon extends his tenure, and Chinese-owned EV maker Polestar exiting the U.S. market due to a ban on its software. Meanwhile, oil prices fell despite a new attack in the Strait of Hormuz as markets focused on supply outlooks, and SpaceX signaled a major disruption to the telecom industry with plans for a direct-to-consumer Starlink mobile service.  

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Micron Technology reported record-shattering earnings and margins, causing its stock to soar and single-handedly reversing a recent downturn in the AI-driven semiconductor sector. Broader market sentiment is being shaped by an impending key inflation report, which is fueling expectations of Federal Reserve rate hikes, a surging US dollar, and a sharp decline in oil prices as Mideast tensions ease. Other significant developments include the successful IPO of aerospace supplier Doncasters, Wendy's becoming a meme stock driven by retail traders, and Lockheed Martin securing a massive $35 billion defense contract.  

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