Markets
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Luke Kawa

Chip stocks jump as Nvidia’s Jensen Huang asks TSMC to boost chip output

Talking about what’s coming out of Taiwan is a lot better for Nvidia than talking about what isn’t going into China.

On Saturday in Taiwan, CEO Jensen Huang said the company’s flagship Blackwell chips are seeing “very strong demand” — in case the $500 billion in orders he recently touted didn’t make that clear.

TSMC CEO and Chairman Dr. CC Wei, whose company just released its October sales numbers, added that his counterpart “asked for wafers” in light of this hot demand, declining to provide any further details.

Shares of Nvidia are up more than 3% in premarket trading on this seeming reaffirmation of the chip designer’s robust sales pipeline.

Optimism over a potential end to the government shutdown is buoying stocks this morning, and chip stocks in particular are in the green. In addition to Nvidia’s gains, Micron and Advanced Micro Devices are also up strongly as of 6:40 a.m. ET (5% and 3.6%, respectively).

Huang also said that there would be shortages of “different things” when asked about limited supply of memory chips, of which Micron is a major producer. Recent chatter of higher memory chip prices as demand outstrips supply has buoyed that cohort.

Wedbush Securities analyst Dan Ives said last week’s downturn among tech stocks was a “short lived white knuckle moment,” and expects the cohort to more than repair those losses through year-end.

“We believe Nvidia’s earnings next week will be another major validation moment for the AI Revolution and be a positive catalyst for tech stocks into year-end as investors continue to underestimate the scale and scope of this transformational spending trend over the next few years,” he wrote.

The government shutdown certainly didn’t stop OpenAI from announcing more spending commitments. But, as was the case in March, when higher-beta AI momentum stocks bore the brunt of the market damage despite not being as sensitive to tariffs, this group has also lagged as of late despite not having much direct exposure to federal spending.

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Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings
markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

markets
Helena Cheng

Rocket Lab deal lifts space stocks

Shares of Rocket Lab are surging after announcing an $8 billion acquisition of satellite communications operator Iridium Communications, helping lift a broader basket of space-related stocks as investors piled back into the sector.

Planet Labs, AST SpaceMobile and Redwire all traded higher alongside Rocket Lab, extending gains in an industry that has drawn enhanced investor attention in recent months in light of the strategic importance that governments place on space and satellite communications infrastructure.

In a presentation, Rocket Lab’s management called the purchase “a shortcut” for its satellite communications business.

Under the terms of the agreement, Iridium shareholders will receive $27 in cash and Rocket Lab stock, valuing Iridium at $54 per share. Backed by a $3.6 billion bridge loan committed by Deutsche Bank and Wells Fargo, Rocket Lab absorbs Iridium’s globally licensed spectrum and an active base of 2.5 million subscribers.

Rocket Lab has also remained one of the most active launch providers in the sector. The company completed its 12th launch of the year last week, maintaining one of the highest launch cadences among commercial space companies.

Today's rally helps offset a brutal stretch for the group. Rocket Lab shares had fallen over 35% over the prior month, while Planet Labs stock was down more than 40% and AST SpaceMobile stock was down around 30% over the same window.

markets
Jake Lahut

Comcast shares rise on news of NBCUniversal spinoff deal

Comcast rose on the news that the telecom behemoth is spinning off NBCUniversal and Sky from its cable portfolio. 

Comcast initially jumped up to 17% in early trading, with the deal leaving management to focus on its core verticals of cable, wireless, and business services. 

NBCUniversal and Sky will form a new publicly traded company, similar to Versant Media, the holding company of CNBC and MS NOW that Comcast officially spun off in January. Bravo, one of the most lucrative properties that remained at Comcast, will remain part of NBCUniversal in the deal. The Universal theme parks and studios will also come with the new spinoff entity, along with Telemundo and Peacock.

Mike Cavanagh, the co-CEO of Comcast, will become the CEO for NBCUniversal, according to CNBC. 

The spinoff will be completed in about a year, according to a Comcast company statement. Its shareholders will also own shares in NBCUniversal, according to the same statement.

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