--- title: "SG Morning Brief | Chips Rebound 2%, Dow Hits Record 53K ; SpaceX in Nasdaq-100 Today" type: "News" locale: "en" url: "https://longbridge.com/en/news/291857214.md" description: "US OvernightThe Nasdaq gained over 1% and the S&P 500 rose 0.7% to a three-week high, with both indexes snapping two-day losing streaks. The Dow advanced 156 points (+0.29%) to a record 53,056 — its second consecutive all-time high. The Nasdaq 100 climbed 1.3%. The Philadelphia Semiconductor Index rallied over 2%, bouncing from last week's 11% two-day rout, as investors positioned ahead of Samsung's preliminary Q2 earnings report and SK Hynix's Nasdaq ADR issuance later this week." datetime: "2026-07-07T00:47:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291857214.md) - [en](https://longbridge.com/en/news/291857214.md) - [zh-HK](https://longbridge.com/zh-HK/news/291857214.md) --- # SG Morning Brief | Chips Rebound 2%, Dow Hits Record 53K ; SpaceX in Nasdaq-100 Today ## US Overnight The Nasdaq gained over 1% and the S&P 500 rose 0.7% to a three-week high, with both indexes snapping two-day losing streaks. The Dow advanced 156 points (+0.29%) to a record 53,056 — its second consecutive all-time high. The Nasdaq 100 climbed 1.3%. The Philadelphia Semiconductor Index rallied over 2%, bouncing from last week's 11% two-day rout, as investors positioned ahead of Samsung's preliminary Q2 earnings report and SK Hynix's Nasdaq ADR issuance later this week. Broadcom gained 3.7% after extending its partnership with Apple. ISM Services showed the US services sector expanded at a slightly slower pace in June, while firms increased hiring as cost pressures eased. SpaceX officially joins the Nasdaq-100 index before today's open, triggering forced buying from the $800 billion in assets that track the benchmark. ### Key Movers **Western Digital (WDC) +7% / AMD +7%** — Western Digital surged over 7% and AMD gained 6.6%, leading the chip rebound. Broadcom rose nearly 4% on the Apple deal extension, and Dell added over 4%. Nvidia gained modestly (+0.4%) after assembly partner Hon Hai Precision signaled that AI demand continues to strengthen. The rally was broad rather than concentrated, suggesting genuine dip-buying rather than a dead cat bounce. **Tesla (TSLA) +7%** — Tesla rose 6.7%, leading the Magnificent Seven higher. Boeing (+3.55%), IBM (+3.43%), and Goldman Sachs (+3.28%) carried the Dow. Six of seven Mag 7 names rose — only Microsoft declined. **Microsoft (MSFT) -1%** — Microsoft slipped nearly 1% after announcing 4,800 layoffs, the only Mag 7 name to close lower. The cuts targeted underperforming employees across the company, consistent with a broader industry trend of trimming headcount while increasing AI investment. ## SGX Preview The STI was near 5,070. DBS near S$62.18, UOB near S$37.91. The overnight chip rebound and Dow record provide a constructive backdrop for Singapore today. SpaceX's Nasdaq-100 inclusion may create temporary selling pressure on existing QQQ constituents as index funds rebalance, but the mechanical impact should be limited given SpaceX's expected weighting below 1%. Samsung's Q2 preliminary earnings later this week are the next catalyst for the memory trade — a strong report could extend the chip recovery. ## Asia Pre-Market Futures data was not yet available. The tone heading into Tuesday is risk-on: Dow at a record, chips bouncing, oil near $69-72, and the VIX falling. SpaceX begins trading as a Nasdaq-100 component today — expect elevated volume as index trackers complete their forced purchases. Samsung's sales update on Friday will determine whether the memory selloff that wiped 11% from the SOX last week was a correction or the start of something deeper. ## Today's US Earnings and Economic Calendar Event Date Time (ET) Time (UTC+8) **SpaceX in Nasdaq-100** **Today** before open — Samsung Q2 Prelim Fri Jul 10 — — FOMC Minutes (Jun 17) Wed Jul 8 2:00 PM 2:00 AM (Jul 9) June CPI Thu Jul 9 8:30 AM 8:30 PM Q2 earnings season begins July 13 (JPMorgan, Wells Fargo, Citigroup). **Week Ahead Spotlight: June CPI (Thursday)** — The single most important data point of the summer. May CPI was 4.2%. Since then, WTI crude has crashed from $95 to $69. If June CPI drops below 4%, the rate hike narrative effectively dies and Warsh can hold through September without pressure. Core CPI is the wildcard — May core was 3.4%, and housing/services inflation has been sticky regardless of oil. Wednesday's FOMC minutes from the June 17 meeting (Warsh's first) will provide additional context on how the committee views the oil-driven inflation unwind. ## One More Thing Two weeks ago, the chip index gained 88% in a single quarter. Then it lost 11% in two days. Now it bounced 2% on Monday. This is not a market that trades on fundamentals — it trades on flows, positioning, and narrative shifts. The fundamental reality has not changed: Micron's HBM is sold out, Nvidia's data center revenue is doubling, and Dell's AI server backlog is $51 billion. What changed was sentiment — the KOSPI crash seeded doubt, Broadcom's miss amplified it, and the DRAM lawsuit gave sellers an excuse. Monday's rebound is a test of whether the doubt was temporary or permanent. Samsung's Q2 numbers on Friday and Micron's next quarter will settle the debate. Until then, the 88% rally and the 11% correction are both still on the table. _This briefing is for informational purposes only and does not constitute investment advice._ ### Related Stocks - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) - [SSNGY.US](https://longbridge.com/en/quote/SSNGY.US.md) - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [WDC.US](https://longbridge.com/en/quote/WDC.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [DELL.US](https://longbridge.com/en/quote/DELL.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [BA.US](https://longbridge.com/en/quote/BA.US.md) - [IBM.US](https://longbridge.com/en/quote/IBM.US.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [STI.SG](https://longbridge.com/en/quote/STI.SG.md) - [D05.SG](https://longbridge.com/en/quote/D05.SG.md) - [U11.SG](https://longbridge.com/en/quote/U11.SG.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [WFC.US](https://longbridge.com/en/quote/WFC.US.md) - [C.US](https://longbridge.com/en/quote/C.US.md) - [.VIX.US](https://longbridge.com/en/quote/.VIX.US.md) - [SMSN.UK](https://longbridge.com/en/quote/SMSN.UK.md) - [WDCVV.US](https://longbridge.com/en/quote/WDCVV.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [BOE.UK](https://longbridge.com/en/quote/BOE.UK.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) - [UOVEY.US](https://longbridge.com/en/quote/UOVEY.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) - [WFC-D.US](https://longbridge.com/en/quote/WFC-D.US.md) - [WFC-L.US](https://longbridge.com/en/quote/WFC-L.US.md) - [WFC-Y.US](https://longbridge.com/en/quote/WFC-Y.US.md) - [WFC-C.US](https://longbridge.com/en/quote/WFC-C.US.md) - [WFC-Z.US](https://longbridge.com/en/quote/WFC-Z.US.md) - [WFC-A.US](https://longbridge.com/en/quote/WFC-A.US.md) - [C-R.US](https://longbridge.com/en/quote/C-R.US.md) ## Related News & Research - [SpaceX says it's worth $1.75 trillion. 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