Markets Daily: Samsung Sparks AI Chip Sell-Off, Oil Rises on Hormuz Attack (2026.07.07)

Tech futures slipped after Samsung's record earnings triggered a sell-off in memory and AI chip names, with Micron and Sandisk falling sharply. Geopolitics stayed in focus as oil edged higher on a reported Iranian attack on commercial ships in the Strait of Hormuz and Ukrainian drones struck Russia's largest refinery. Meanwhile, companies tapped capital markets aggressively — Rivian sold 75 million shares, Amazon reportedly seeks $25 billion in bonds, and SpaceX prepares to enter the Nasdaq-100.

1. Samsung's 19-Fold Profit Jump Triggers AI Chip Sell-Off — Micron, Sandisk Dive

Source: Samsung's 19-fold rise in profit fails to impress investors (click for the original)

Samsung reported a 19-fold rise in profit, but the results failed to impress investors: its Seoul-listed shares fell nearly 7%, and the report sparked a broader sell-off in AI and memory chip stocks, with Micron and Sandisk diving and S&P 500 and Nasdaq futures slipping.

Bloomberg reported the Samsung results are triggering a rotation out of crowded AI chip trades into less-loved sectors. Barron's separately noted that red-hot memory names like Sandisk are starting to cool. In related chip news, Onsemi said it will sell two chipmaking plants to cut costs, and TechCrunch reported U.S. investors will soon get access to SK Hynix, another memory maker riding the AI boom.

The reaction matters more than the earnings: a 19-fold profit increase being sold suggests AI chip expectations were already priced for perfection. Watch whether the rotation into other sectors persists and how U.S. memory names trade in the regular session.

• Samsung's 19-fold rise in profit fails to impress investors as AI chip stocks fall (Yahoo Finance)
• Stock Market Today: Tech Futures Sell Off As Samsung Falls On Earnings; Micron, Sandisk Dive (Investor's Business Daily)
• Samsung Results Trigger Stock Rotation to Less Loved Sectors (Bloomberg)

2. Oil Rises on Reported Iranian Attack in Strait of Hormuz; Ukraine Hits Russia's Largest Refinery

Source: Oil prices edge higher after report of Iranian attack on com (click for the original)

Oil prices edged higher after a report of an Iranian attack on commercial ships in the Strait of Hormuz. Separately, Ukrainian drones struck Russia's largest oil refinery in Omsk, with President Zelenskyy saying Siberia is now 'within reach' — and MarketWatch reported stress is spreading from Russia's burning refineries into its bond market.

President Trump arrived in Turkey for a NATO summit strained by Russia's continuing attacks on Ukraine and U.S. pressure on members to raise defense spending. CNBC also flagged why oil investors fear the next shipping chokepoint dispute could center on the Strait of Malacca.

Energy supply risk is now spread across multiple chokepoints and refinery infrastructure at once. Variables to watch: whether the Hormuz incident is confirmed and repeated, the damage assessment at Omsk, and whether the NATO summit produces concrete spending commitments or friction.

• Oil prices edge higher after report of Iranian attack on commercial ships in Strait of Hormuz (CNBC)
• Ukrainian drones hit Russia's largest oil refinery as Zelenskyy says Siberia now 'within reach' (CNBC)
• Trump arrives in Turkey as NATO is strained by Russian attacks, U.S. impatience (CNBC)

3. Capital Markets Busy: Rivian's 75M-Share Sale, Amazon's $25B Bond Plan, Vertex's $10B Deal

Source: Rivian stock falls 10% as company sells 75 million shares to (click for the original)

Rivian stock fell 10% after the company announced a public offering of 75 million shares to raise capital. Amazon is aiming to raise $25 billion from a bond sale, according to a Bloomberg News report, and Vertex struck a $10 billion deal for endocrinology biotech Crinetics.

Toyota is investing $3.6 billion in a Texas plant and moving most Tacoma pickup production from Mexico. Elsewhere, Hanwha Ocean shares sank 23% after losing the bid to build Canada's next submarine fleet, and India's fashion retailer Trent tumbled 11% on disappointing revenue growth.

Heavy equity and debt issuance alongside a $10 billion biotech acquisition points to companies taking advantage of open capital markets. Watch the pricing and demand for Amazon's bond sale as a read on corporate credit appetite, and whether Rivian's dilution changes its cash runway narrative.

• Rivian stock falls 10% as company sells 75 million shares to raise capital (CNBC)
• Amazon aims to raise $25 billion from bond sale, Bloomberg News reports (Yahoo Finance)
• Vertex makes $10B deal for commercial endocrinology biotech Crinetics (Endpoints News)

4. SpaceX Joins Nasdaq-100 After 15 Trading Days; Underwriters Split by $1 Trillion on Valuation

Source: SpaceX is entering the Nasdaq 100 — here's what it could mea (click for the original)

SpaceX, described as the world's largest IPO, is entering the Nasdaq-100 after only 15 trading days as a public company. As the post-IPO quiet period ends, MarketWatch reports the two lead underwriters are publishing valuations separated by a $1 trillion chasm.

MarketWatch notes the Nasdaq-100 has been far more volatile than the S&P 500, and adding SpaceX could amplify that. An Argus report separately credited SpaceX with helping the IPO market rebound.

A $1 trillion gap between the lead underwriters' own valuations is an unusually wide disagreement for a stock about to enter a major index. Watch the index-inclusion flows and how analyst coverage converges — or doesn't — now that the quiet period is over.

• SpaceX is entering the Nasdaq 100 — here's what it could mean for the stock (Yahoo Finance)
• SpaceX's two lead underwriters have a $1 trillion chasm in their valuation as quiet period ends (MarketWatch)
• The Nasdaq-100 has been far more volatile than the S&P 500. Now add SpaceX to the mix. (MarketWatch)

5. Gold Near $4,200, Silver Near $62, Yen at 40-Year Low, Bitcoin Around $63,400

Source: Gold slips as stronger dollar weighs; focus on Fed minutes a (click for the original)

Gold is hanging around $4,200, slipping as a stronger dollar weighs, with markets focused on upcoming Fed minutes and Gulf tensions, per Reuters. Silver is holding near $62, and bitcoin opened strong again around $63,400, up roughly 2.8%, with ethereum also higher.

In currencies, the yen is pinned near a 40-year low with investors wary of possible intervention. On the housing front, far more real estate agents now report seeing a balanced market, according to CNBC's Housing Market Survey.

The Fed minutes are the near-term catalyst for both the dollar and metals. Watch for any Japanese intervention signals with the yen at multi-decade lows, and whether Gulf tensions put a floor under gold despite dollar strength.

• Gold slips as stronger dollar weighs; focus on Fed minutes and Gulf tensions (Reuters)
• Yen pinned near 40-year low with investors wary of intervention (Yahoo Finance)
• Bitcoin and ethereum prices today, Tuesday, July 7, 2026: Another strong opening for BTC and ETH prices (Yahoo Finance)

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