NASDAQ Rises at Start of Busy Week for Tech Stocks

Dow Jones07-06 21:51

U.S. stocks are rising to kick off a week that will challenge investors' appetite for the artificial-intelligence trade again.

The Nasdaq composite is leading gains among major indexes, a sign traders are brushing off the AI worries that have jolted stocks in recent weeks.

That optimism will face a test Tuesday, when chip giant Samsung is expected to share a second-quarter update. SK Hynix's $29 billion U.S. stock-market listing will follow just a few days later, in what is set to be one of the biggest share sales in history.

Meanwhile, SpaceX's fast-track entry into the Nasdaq-100 Tuesday is set to spark a flurry of trading.

On Wednesday, the Fed will release minutes from its first meeting under Chair Kevin Warsh, which traders will parse for clues on the trajectory of interest rates.

In recent trading:

Oil is drifting lower after OPEC+ agreed to raise output for a fifth straight month, and as a supply shock turns into a glut.

The dollar is strengthening against a basket of currencies while the yen is weakening. Traders are on high alert for an intervention.

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