5 Things to Watch on
July 7, 2026

Stocks are up more than +0.4% today in premarket trading as SpaceX (SPCX) joins the Nasdaq-100 just 15 trading days after its debut, entering one of the market's biggest passive investing machines. Index funds must now buy SPCX and trim other holdings, a rebalancing that could force billions in purchases. JPMorgan estimated $4.3B in passive demand, with another major bank putting that closer to $8B.

Samsung Electronics (SSNLF) fell -7% on the Korea Exchange today even after guiding for a stunning 19-fold jump in second quarter operating profit to roughly $58.4B, as investors decided the AI story was already priced in and turned their focus to whether the infrastructure boom can keep justifying itself. The reaction rippled across the sector: SK Hynix tumbled alongside Samsung, dragging South Korea's Kospi Index sharply lower, while the anxiety jumped borders to hit U.S. chipmakers and suppliers up and down the AI hardware chain. Micron Technology (MU) led the American decline, falling nearly -5% premarket.

Amazon (AMZN) is seeking to raise at least $25B through a U.S. dollar bond sale, with notes ranging from 3 to 40 years in maturity. The company said proceeds will fund general corporate purposes, including debt repayment, acquisitions, and subsidiary investment, though the raise comes as AMZN continues pouring capital into its AI ambitions. Barclays, Goldman Sachs (GS), J.P. Morgan (JPM), and Morgan Stanley (MS) are underwriting the offering.

The Cybersecurity and Infrastructure Security Agency is using Anthropic's AI model Mythos to scan government code repositories for vulnerabilities that could expose systems to foreign spies and cybercriminals, underscoring continued government reliance on the startup's tools even as it navigates a standoff with the White House. The agency's Attack Surface Evaluation team has reportedly already uncovered numerous vulnerabilities using the model. The National Security Agency has separately been testing Mythos in classified settings since April despite the blacklisting.

China's DeepSeek is developing its own AI chip aimed at reducing dependence on Nvidia (NVDA) and Huawei processors, with a design focused on inference rather than model training. The effort, underway for about a year, includes outreach to chip design, foundry, and memory partners, alongside increased private hiring of chip engineers. Huawei currently holds roughly half of China's $50B domestic AI chip market, a share increasingly contested by Alibaba (BABA) and Baidu (BIDU), as global AI developers push for greater control over their hardware supply chains.