AI stocks rebound lifts S&P 500 as Broadcom gains on Apple deal

Wall Street trended higher on Monday, July 6, 2026, as a resurgence in artificial-intelligence stocks propelled the S&P 500 to a 0.7 percent gain, placing the benchmark index within one percent of its all-time high. The Nasdaq composite advanced 1.1 percent by 1:30 p.m. Eastern time, while the Dow Jones Industrial Average added 44 points, or 0.1 percent.

Broadcom and AI sector activity

Broadcom provided the primary momentum for the S&P 500, rising 4.3 percent following its announcement of long-term agreements to supply silicon products to Apple. The move marked a recovery for the chipmaker, which had recorded losses exceeding 2 percent on the two preceding trading days before the Fourth of July holiday.

Media additions

Other firms in the artificial-intelligence sector saw varied outcomes as investor sentiment remains sensitive to the productivity and profit potential of large-scale AI investments. TeraWulf climbed 7.9 percent after announcing a 20-year contract with Anthropic to utilize its Kentucky data centre, a deal the company expects will generate roughly $19 billion in revenue as it pivots from Bitcoin mining to high-performance computing.

Volatility remains prevalent in the sector. South Korean memory manufacturer SK Hynix, whose shares listed in Seoul have more than tripled this year, saw a 14.6 percent decline on Thursday. The company is preparing for a U.S. Share offering on the Nasdaq expected to raise $28 billion, which would rank among the largest U.S. Offerings following SpaceX’s $75 billion IPO last month. Meanwhile, SpaceX shares fell 0.9 percent on the final day of trading before its scheduled entry into the Nasdaq-100 index, an inclusion that will mandate purchases by index-tracking funds such as the QQQ.

Commodities and bonds

Energy prices drifted downward, with Brent crude falling 0.5 percent to $71.79 a barrel. This follows the Sunday announcement from OPEC+ that seven member nations will expand output by a combined 188,000 barrels per day in August, marking the fifth consecutive month of production increases. In the bond market, the yield on the 10-year Treasury edged down to 4.48 percent from 4.49 percent late Thursday.

Presidential focus on equity markets

In Washington, President Donald Trump marked the start of the trading day by ringing the opening bells for both the New York Stock Exchange and the Nasdaq from the Oval Office. The event served to promote the launch of "Trump Accounts," investment vehicles for children under age 18 established under the 2025 tax and spending cuts legislation.

During the event, Treasury Secretary Scott Bessent noted that 38 percent of American families currently lack exposure to equity markets. The administration’s initiative includes $1,000 government deposits for children born between 2025 and 2028, alongside seed money for children aged 10 and under. Michael and Susan Dell have pledged $6.25 billion to the accounts, while billionaire Ray Dalio and SpaceX President Gwynne Shotwell have also made commitments, with Shotwell pledging stock in the Elon Musk-led company.

"It’s going to go up — I think the market’s going to go through the roof,"

Donald Trump, President, via AP News

The launch takes place against a backdrop of ongoing economic debate. Data from the S&P 500 shows gains of 17.9 percent in 2025, following returns of 25 percent in 2024 and 26.3 percent in 2023. The benchmark has risen roughly 10 percent year-to-date. According to the AP-NORC Center for Public Affairs Research, 33 percent of U.S. Adults approve of the President's economic leadership as the administration faces inflationary pressures, with the consumer price index climbing 4.2 percent over the past 12 months.

Looking ahead

• SK Hynix’s $28 billion U.S. Share offering is slated for later this week.
• SpaceX is scheduled to join the Nasdaq-100 on the next trading day.