Stocks today: Live updates

On Monday, 28 stocks in the S&P 500 traded at new 52-week highs.

Names that hit this milestone included:

• Live Nation Entertainment trading at all-time high levels back to its IPO in December 2005
• Airbnb trading at levels not seen since February 2025
• M&T Bank trading at all-time high levels back through our history to 1975
• AbbVie trading at all-time highs back to its spin-off from Abbott Labs in December 2012‎
• Johnson & Johnson trading at all-time high levels back to its IPO on the NYSE in 1944
• Eli Lilly trading at all-time high levels back to 1952 when the company offered its first public shares of stock.
• Applied Materials trading at all-time high levels back to its IPO in October 1972
• Corning trading all-time highs back to its IPO in December 1981
• Palo Alto Networks trading at all-time highs back to its IPO in July 2012
• NiSource trading at all-time highs back through our history to 1984

On the other hand, just seven stocks in the index traded at new 52-week lows:

• AT&T trading at lows not seen since October 2024
• T-Mobile US trading at lows not seen since May 2024
• CME trading at lows not seen since November 2024
• Intercontinental Exchange trading at lows not seen since December 2023
• Boston Scientific trading at lows not seen since November 2022
• Copart trading at lows not seen since November 2022
• Rollins Inc trading at lows not seen since April 2024

— Christopher Hayes and Lisa Kailai Han

Chipmakers — Semiconductors were volatile Monday as investors rotated money between the sector and the rest of the market. The VanEck Semiconductor ETF (SMH) was last up 2.5% after falling as much as 3.1%. Nvidia traded 0.6%, recovering from a 1.4% slide. Micron pared earlier losses, trading 2% lower.

TopBuild — The insulation and building materials maker dropped 12% to start the week, putting it on pace for its worst day since March 2020. The move comes as investors brace for TopBuild to be acquired by QXO. The deal was announced in April.

Comcast — Shares rose 6% after the company announced it would spin off its media portfolio of NBCUniversal and Sky. The spin-off is expected to be completed in about one year, and will see Comcast co-CEO Mike Cavanagh stepping into the role of leader at NBCUniversal, while former Comcast CFO Michael Angelakis will become chief of the telecommunications company.

Read more here.

— Fred Imbert

European markets closed mixed on Monday, amid a quiet start to the week across the Atlantic as investors weighed the prospects of a lasting end to the Iran war.

The pan-European Stoxx 600 index provisionally closed less than 0.1% higher, while regional indexes like Britain’s FTSE 100, Germany’s DAX, and France’s CAC 40 ended the session down about 0.2% each.

The Stoxx 600 Technology index recovered 1.2% following a roughly 4% drop last week.

Energy and utility stocks also rose, while basic materials underperformed.

— Elsa Ohlen

The tech giant helped lift the 30-stock index, which is now up 0.4% on the day.

The stock remains on course for a drop of more than 7% in June, a rocky month for Alphabet. The company has been grappling with artificial intelligence worries, especially as two high-profile researchers left the company for rivals earlier this month.

—Darla Mercado

The Supreme Court on Monday ruled against President Donald Trump’s effort to sack Federal Reserve Governor Lisa Cook on grounds that the central bank policymaker did not receive due process.

However, the court’s decision stopped short of ruling that Trump can’t remove Fed officials for cause.

Instead, the ruling focused on an appeal the government filed from a lower court ruling that rejected a petition for a stay of ruling.

The decision noted the administration’s “halfhearted contention that Cook in fact received due process. At minimum, Cook was entitled to some explanation of the evidence at issue, some avenue for a response, and a deadline by which a response would be due.” The majority ruling found that the government would be unlikely to prevail on it arguments against the stay.

The decision came by a 5-4 vote.

—Jeff Cox

Micron‘s rally still had room to run as the AI semiconductor cycle continues to reshape the memory business, according to Adam Parker, founder of Trivariate Research.

“Not owning Micron today has some similarities in our view to how we felt about Nvidia 2.5 years ago,” he wrote.

In a note, Parker and his team argue that investors are too quick to dismiss AI semiconductor gains as just another bubble, adding further that while every cycle eventually turns, the current boom has already proven that it’s different from past memory upcycles because of the scale of AI demand and hyper-scaler capital spending.

Pointing to Micron’s recent blowout quarter as evidence, he said, “Micron went from being perceived as a low-quality commodity producer with a questionable reputation 25 years ago to a company that is guiding that they will do $50 billion in quarterly revenue at 86% gross margins this next quarter.”

Parker said this is not just the strongest profit cycle in DRAM history, but possibly “the greatest in the history of all cyclicals.” The analysis recommends staying market-weight in memory and semiconductor capital equipment names, saying it is too hard for long-only investors to accurately time daily movements that can potentially move stocks up or down 10%.

— Deena Zaidi

Marvell Technology is poised to see more upside as it benefits from an artificial intelligence-linked surge in demand for its products, according to UBS.

The bank raised its price target on the technology name to $340 from $230, implying a 27.5% upside from Friday’s close.

“CXL is becoming a critical enabling technology. We believe MRVL has the leading market share in CXL products to date, but we do see ALAB becoming a larger player,” analyst Arcuri Timothy said Monday in a note to clients.

Demand for Compute Express Link (CXL) is set to surge as AI and data center workloads require higher-capacity memory systems to execute more complex tasks, according to UBS. That surge in demand should boost Marvell’s shares as the company increasingly shifts its focus to CXL products, Arcuri added.

Marvell Technologies has surged 213% in 2026, vastly outperforming the S&P 500.

SpaceX and Charter Communications could both benefit if they pair up in a consumer mobile partnership, Wolfe Research said in a note Sunday.

The companies have held executive-level talks about coming together on a consumer mobile phone offering, Bloomberg News reported Friday, citing sources.

Wolfe believes that could include offloading Starlink Mobile traffic to Charter’s WiFi and small cells network. Starlink has faced coverage challenges in homes, outdoors and commercial buildings, said analyst Ronald Supino.

“A partnership with Charter could help Starlink cover tens of millions of homes and public spaces: he wrote. “With Starlink poised to launch v3 satellites that could dramatically boost growth in Charter’s fixed broadband wheelhouse, these two are potential frenemies.”

Shares of SpaceX were up roughly 2% in premarket trading, while Charter soared 24%. .

— Michelle Fox

Six Flags Entertainment has underperformed following its merger, but the stock has room to run on several catalysts, including improving attendance numbers at its parks, according to Citizens.

“Upsell into higher-priced ticket packages, increased in-park spending, and procurement efficiencies represent several potential catalysts, while attendance recovery should drive meaningful operating leverage given the high fixed-cost structure,” Citizen analysts said in a recent note to clients.  

Executives are increasingly integrating advanced technologies into Six Flags’ operations, which should make the firm more efficient and boost its stock, according to the analysts. They added that consumers have also demonstrated a willingness to spend more money on season passes to parks, which could support an eventual improvement in Six Flags’ margins.

Six Flags Entertainment merged with Cedar Fair in 2024, but the union between the two companies has faced several challenges, including “operational issues, and weather-related headwinds,” per Citizens.

Nevertheless, attendance at Six Flags increased 4% in the first quarter of 2026, signaling a reversal of a months-long decline in visitors, according to the analyst note.

— Ananya Chetia

Rocket Lab announced Monday that it will acquire satellite services company Iridium Communications.

The aerospace company will acquire all of Iridium’s outstanding common stock for $54 per share in a cash and stock transaction. Rocket Lab said the merger will combine its launch capabilities with Iridium’s satellite communications network, creating a competitive space company.

“”This is a defining moment for the space industry and the start of a new era of strategic, accelerated growth for Rocket Lab and Iridium,” said Sir Peter Beck, founder and CEO of Rocket Lab, in a press release. “By marrying Iridium’s deep heritage, trusted infrastructure, and highly sought-after spectrum with Rocket Lab’s extensive and proven launch and manufacturing capabilities, we have the capability to unlock entirely new markets.”

Shares of Rocket Lab were up more than 10% after the announcement, while Iridium’s stock soared 20%.

— Davis Giangiulio

Check out the companies making the biggest moves premarket:

Charter Communications — The home internet provider soared almost 20% on a Bloomberg report from Friday that said the company and SpaceX had held exclusive talks on a consumer phone product. The report said Charter could run some of SpaceX’s consumer mobile phone traffic through its ground internet infrastructure.

Verizon Communications — The telecommunications company was off 0.5% after it projected second quarter losses between $700 million and $800 million. The estimate comes from the company classifying businesses its contributing as part of a joint venture with U.K.-based BT Group as held for sale.

Oracle — The cloud company rose 3% as it looked to start the shortened trading week with a rebound from its worst week since 2001. Shares fell 19% last week on worries about the company’s debt and if its bet on artificial intelligence will pay off.

Read the full list here.

— Davis Giangiulio

Don’t expect markets to get calmer once the war between Iran and the U.S. ends, according to Deutsche Bank.

“Markets should expect more policy volatility, not less, after Iran. Washington’s willingness to consider using force means geopolitical tail risks will likely remain difficult to price,” wrote Helen Belopolsky, the bank’s global head of geopolitical research.

“The midterms may cap some near-term volatility but increase incentives for visible foreign policy wins. President Trump has reason to avoid market-disruptive escalation before November, but pressure for quick wins could accelerate action on Cuba and Europe,” she added. “After November, foreign policy could become an even bigger focus. If domestic legislating becomes harder, the administration is likely to lean more heavily on executive tools, sanctions, tariffs, security deals and international resource coalitions.”

— Fred Imbert

Comcast shares rallied 25% after it said it will spin off its media and tech businesses into two publicly traded companies. The separation is expected to be completed in about a year.

U.S. Treasury yields were little changed on Monday as investors looked ahead to key jobs data coming later in the week and monitored a fragile pause in hostilities between the U.S. and Iran.

At 3:50 a.m. ET, the benchmark 10-year Treasury yield rose less than a basis point to 4.376%, while the 2-year Treasury yield rose just over 1 basis point to 4.102%. Meanwhile, the 30-year bond yield declined less than one basis point to 4.861%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Investors are anticipating upcoming labor market data during the holiday-shortened week. The bond market will be closed on Friday, 3 July, ahead of Independence Day celebrations.

— Sawdah Bhaimiya

British American Tobacco’s U.S.-listed shares dipped in premarket trading after the company announced it would lay off 5,500 roles in a bid to deliver £600 million ($792.6 million) in cost savings by 2028.

The global tobacco company, which sells cigarettes, vapes, and other nicotine products, said Monday that 5,500 roles will be slashed by the end of the year and a further 3,500 jobs will be shifted to strategic partners, as part of its Fit2Win restructuring program. BAT sank nearly 2% before the market opened.

“We are building a future-ready organisation that is more agile, cost disciplined and technology enabled,” BAT CEO Tadeu Marroco said. “These changes affect many of our colleagues, and we are focused on supporting them through this transition with care and respect, as we position the business for the future.”

Earlier this year, BAT introduced an AI-driven productivity program in a bid to secure efficiency gains and simplify workloads, which it said would impact the size of the organization.

Most of the cuts announced have already been confirmed with the employees affected.

— Sawdah Bhaimiya

SpaceX shares rose 1.5% in premarket trading Monday after Nasdaq said the aerospace and satellite company would be fast-tracked onto the Nasdaq-100 index next month.

Elon Musk’s company is expected to join the tech-heavy benchmark index before trading begins on July 7.

The move, which Nasdaq announced following Friday’s market close, comes just weeks after the rocket maker went public in a blockbuster IPO on June 12.

—Hugh Leask

European markets began the new trading week with no clear direction, with regional bourses and sectors in mixed territory by 8:10 a.m. in London (3:10 a.m. E.T.)

The Stoxx 600 opened flat on Monday, with the pan-European benchmark hovering around the flatline in early trade.

Most regional sectors were in the red, though technology was a standout performer, gaining 1.15%.

In Frankfurt, Germany’s DAX rose 0.18%, while the Italian FTSE MIB was 0.13% higher in Milan. In London, the U.K.’s FTSE 100 was down 0.09%, and in Paris, the CAC 40 was about 0.25% lower.

— Hugh Leask

Asia markets closed mostly higher, with key benchmarks rebounding from losses seen at the start of the trading day.

Japan’s Nikkei 225 was 0.15% higher, ending the session at 69,468.11, while South Korea’s Kospi slipped 0.2% to 8,394.65.

Hong Kong Hang Seng Index advanced 1.82% higher in the final hour of trade, while the mainland’s CSI 300 was up 1.21% at 4,926.92. Australia’s benchmark S&P/ASX 200 added 0.68% to 8,823.40.

— Justina Lee

Dutch technology investor Prosus reported an 84% jump in its full-year adjusted core profit on Monday. Annual revenues reached $9.7 billion in the year to March 31, with group adjusted EBITDA of $1.1 billion.

Fabricio Bloisi, CEO of Prosus, said the Amsterdam-based company, whose portfolio investments include Just Eat and Tencent, attributed stronger growth and profitability to the way the group uses technology.

But he also warned that European regulators are driving big tech away from the continent and towards the U.S. “It’s a mistake. We have to have big tech companies here,” Bloisi told CNBC’s “Squawk Box Europe” Monday.

Prosus shares added 2.5% at the open.

— Hugh Leask

BT Group and Verizon are combining their international enterprise operations in a new 50:50 joint venture, which will create a new company focused on multinational connectivity.

In a statement, the telecoms giants said the deal will be worth about $4 billion in annual revenue, and will serve more than 3000 customers in over 180 countries.

Martijn Blanken is named CEO-designate of the new joint venture.

Dan Schulman, CEO of Verizon, said: “Our international customers require secure, flexible connectivity that works seamlessly across borders and cloud environments. When we thought about how to best support them, this joint venture was the clear answer: a cutting-edge, AI-ready and secure platform run by a single global organization dedicated to their needs.”

Allison Kirkby, CEO of BT Group, said the venture will create long-term value for shareholders. “Customers will benefit from new, secure and resilient connectivity platforms, which are designed for the age of AI and sovereign where it matters.”

— Hugh Leask

Gold and silver traded lower in early dealmaking, as questions over the durability of the Middle East ceasefire pushed oil prices higher, driving renewed inflation concerns and sending non-yielding precious metals lower.

Gold futures were last seen 0.68% lower at $4,068.10 shortly after 6:15 a.m. in London (1:15 a.m. E.T.). Spot prices of bullion were last seen down to the tune of 0.91%, at $4,050.84.

Meanwhile, silver futures were trading at $58.15, a 1.82% slide. Spot silver was last seen 1.5% lower at $58.25.

— Hugh Leask

Shares of Nintendo surged more than 6% after the company said it is evaluating the feasibility of a stock split.

The Japanese video game company said it “believes reduction of the minimum trading unit of shares is one of the effective measures to further expand the investor base and to enhance stock liquidity,” according to a statement on Monday.

The company last enacted a 10-for-1 stock split of its common stock in October 2022.

Stock splits help companies reduce the price of individual shares, making them more accessible to retail investors. The company’s overall market capitalization is not altered by stock splits, though they do increase the total number of outstanding shares.

— Justina Lee

Hong Kong-listed shares of Baidu surged more than 7% Monday on reports that its artificial intelligence chip unit Kunlunxin is targeting an initial public offering in the city, which could value its affiliate at $50 billion.

Prospective investors were asked to buy semiconductors worth three to seven times the value of their intended investment in Kunlunxin’s planned listing, The Information reported Sunday, citing two sources familiar with the matter.

Baidu confidentially filed a listing application for Kunlunxin on the Hong Kong Stock Exchange at the start of the year, though offering details, including size and structure, were undecided then.

—Justina Lee

Read the full story here

China on Monday blacklisted four Japanese government defense research institutes and imposed tighter export restrictions on dozens of other Japanese entities, escalating a months-long campaign to limit Tokyo’s access to Chinese-origin dual-use goods.

The Ministry of Commerce added 20 entities on the export control list and another 20 — including Mitsui E&S Co., drone maker Terra Drone Corporation, nuclear fuel processors, and multiple units of OKI Electric Industry — on a watch list requiring enhanced licensing scrutiny. Both actions take effect immediately.

The authorities would implement “stricter end-user and end-use reviews on exports of dual-use items by entities on the watch list,” the ministry said.

“Exports involving Japanese military users, military uses, and any other end-user uses that contribute to enhancing Japan’s military strength will not be approved,” according to the statement.

— Anniek Bao

Oil edged higher on Monday after renewed military strikes between the U.S. and Iran over the weekend reignited concerns over crude supplies from the Middle East.

West Texas Intermediate futures rose 1.3% to $70.17 a barrel. International Brent climbed 0.78% to $72.55. WTI futures settled below $70 on Friday for the first time since Feb. 27 — the day before the start of the Iran war.

Following clashes that threatened to derail negotiations aimed at ending the conflict, U.S. officials said both sides would pause hostilities and allow commercial vessels to transit the Strait of Hormuz freely.

— Lee Ying Shan

Shares of Samsung Electronics and SK Hynix plunged on Monday after reports surfaced that the pair are expected to unveil investment plans worth more than a trillion dollars.

Samsung Electronics’ stock was down 4.7%, while SK Hynix was 3.1% lower.

Samsung Electronics and SK Hynix will unveil major investment plans of up to 2,000 trillion won ($1.3 trillion) over the next 10 years, the Korea Economic Daily reported.

The investment plans will be announced during a government briefing at 2 p.m. local time Monday. The meeting will be chaired by President Lee Jae Myung, the presidential office said Sunday.

— Lee Ying Shan

Asia-Pacific markets traded mixed early Monday, as investors continue to assess the latest developments in the Middle East.

Japan’s Nikkei 225 slipped 0.35% while the Topix rose x0.43%.

The Kospi dropped 2.29% at open, while the small-cap Kosdaq added 0.97%.

Australia’s benchmark S&P/ASX 200 was 0.41% higher.

—Justina Lee

Asia-Pacific markets were set to open higher on Monday after a rout in tech stocks last week.

Japan’s Nikkei 225 was poised to gain, with the Chicago futures contract at 70,170 and its Osaka counterpart last trading at 69,610, compared with the index’s previous close of 69,360.88.

Hong Kong Hang Seng index futures were at 22,916, higher than the index’s last close of 22,671.86.

In Australia, futures last traded at 8.774, while the S&P/ASX 200 closed Friday at 8,764.20.

Tensions in the Middle East escalated over the weekend after the U.S. struck Iranian military targets in retaliation for Iran’s strikes on shipping vessels in the Strait of Hormuz.

Markets are still parsing through mixed signals following the recent developments in the Middle East.

A Pakistani source told MS NOW that talks between Washington and Tehran have been put on hold, but that the US, Iran, Pakistan and Qatar all have representatives currently in Switzerland to restart discussions when instructed to do so.

A senior Trump administration official said the talks had not been called off. “Nothing has been cancelled,” the official said in a statement to MS NOW. “Technical talks regarding the implementation of (memorandum of understanding) are on track for the coming days as planned.”

The White House did not immediately respond to a request for comment from CNBC.

—Justina Lee

SpaceX became one of the quickest additions ever to the Nasdaq-100 index, setting up a fresh wave of buying from passive investors less than a month after the company’s blockbuster public debut.

Nasdaq announced after the close Friday that SpaceX qualifies for inclusion in the benchmark technology index. Assuming the company meets the requirements, index-tracking funds and other product sponsors would begin purchasing shares after the market closes on July 6, with SpaceX officially joining the Nasdaq-100 before trading begins on July 7.

Read more here.

— Yun Li

President Donald Trump again threatened Iran on Sunday with annihilation following U.S. attacks on Iranian military targets in retaliation for Tehran’s latest strikes on shipping in the strategically vital Strait of Hormuz.

Iran’s neighbors, Kuwait and Bahrain, reported incoming missiles and drones overnight.

“United States aircraft just struck Iranian missile and drone storage locations, and coastal radar sites, for violating the Cease Fire Agreement, AGAIN!,” Trump wrote on Truth Social.

Read the full story here.

— Azhar Sukri