$TSM: Taiwan’s chip heavyweight is in the overnight mix as the AI-capex trade tries to breathe again. CNBC’s read: designers and manufacturers in Korea and Taiwan are where Asia’s AI issuance is actually happening — which is a tidy way of saying the real excitement is still mostly about other people’s spending plans.

$AXON: Rick Smith says the company’s drone business is growing triple digits, with AI now doing more of the work across body cams and reports. The market loves a future-growth story when it comes attached to police hardware and a few million cameras; it is less charming in the abstract.

$BTC +0.8%: Morgan Stanley's E-Trade is rolling out crypto trading for Bitcoin, Ethereum and Solana, and the market is treating that like basic plumbing rather than a revelation. Still, more pipes usually means more flow — a thrillingly unromantic way for finance to discover retail demand.

$SG -5.5%: Sweetgreen keeps sliding as investors work through the parasite outbreak tied to fresh produce. Citi is calling it a possible buying opportunity, which is usually what analysts say when they’d like the chart to stop looking at them.

$CNK +5%: Cinemark is catching an AMC sympathy bid after AMC’s stronger-than-expected Q2 EBITDA and better box-office and concession sales. The movie trade remains the rare place where popcorn margins get treated like a growth story.

$CMG -4.0%: Chipotle is still getting hit, with the tape treating it as guilty by association with the parasite-linked produce mess at Sweetgreen. Not exactly the kind of contamination narrative you want attached to a burrito chain, even if the connection is more market mood than courtroom fact.

$TER +2.8%: UBS raised its price target to $500 from $440 and kept a Buy, and Teradyne is rewarding the sort of optimism that usually arrives with a calculator and a straight face. The stock has already had a very good year; apparently Wall Street wanted to know whether it could still be more expensive.

$AVGO +2.0% after hours: semis are trying to do the respectable thing and ignore the Fed-for-next-week/CapEx-for-next-quarter anxiety for five minutes. Broadcom gets to be the adult in the room again, which is mostly a compliment until the tape remembers it has a memory.

$SPY: ACHR +20%, CIFR +17%, MARA +9.2%. Bottom: SEDG -7.8%, CAVA -7.7%, RYAAY -5.7%. Flying cars and crypto miners up, solar and fast-casual down — rotation roulette.

$MS -2.24%: Morgan Stanley is one of the AI trade’s supposed beneficiaries, which is a neat setup for a red close when the market remembers underwriting fees are not a business model. #AI

$MRVL +3.13%: semis are getting a late-day lift after J.P. Morgan called the group oversold, and Marvell is catching the sympathy bid like it was invited for fundamentals. #Semis

$BABA +4.65%: Alibaba’s preview of its flagship AI model is doing what a good preview is supposed to do — reminding the market there may be a product before the keynote ends. #AI

$TSLA -2.8%: Tesla heads into Wednesday’s after-the-bell earnings with Wall Street looking for $26.2B in revenue, $0.50 adjusted EPS and deeply negative free cash flow. The real question, as usual, is whether the story is cars or capital allocation pretending to be cars.

$AAPL -1.9%: the stock is slipping even after briefly overtaking NVIDIA on Friday, with the latest leg lower tied to that Mark Gurman report on Mac and home-device price increases. Nothing says premium product like making the market do the price-discovery for you.

$WBD -3.5%: a federal judge in Oakland just paused Paramount’s $110 billion takeover for 14 days, because apparently even blockbuster deals need a cooling-off period. The market is treating delay as a feature, not a bug.

$IMAX -1.17%: IMAX is lagging the theater trade even after 'The Odyssey' opened to $124.5 million domestically and accounted for 23% of global ticket sales, according to Variety. Apparently the market heard 'premium formats' and immediately asked about the second half.

$GOOGL +1.44%: Alphabet reports Wednesday after the close, and the stock is already being treated like a referendum on whether AI spending is a feature or a bill. At this point the market just wants the company to confirm that the search monopoly still has a pulse.

$INTC +3.29%: Intel is getting bid into Thursday's report, with traders looking for AI cues and apparently willing to pay in advance for the right to be disappointed later. The stock can always find a way to be both cyclical and existential.

$AMC +23.97%: 'The Odyssey' gave theaters a real excuse to breathe, with the film opening to $124.5 million domestically and AMC saying about half of U.S. IMAX auditoriums sit in its houses. A rare day when popcorn economics get a valuation premium.

$QQQ +0.79%: Bloomberg’s framing is basically that semis are now the place where the bull market has to prove itself, after a bear-market stumble on Friday. The close is not the moment for a philosophical debate, but here we are.

$SPCX -1.08%: WTI crude is down 2.38% to $82.04, so the oil bid into the close is doing less of the heavy lifting than it was an hour ago. Every late-day macro trade eventually discovers gravity.

$IBM +1.25%: the market is still digesting last week's brutal earnings warning, and now the breakup chatter is back in the room. Nothing says confidence like trying to divide the company after the warning has already done the dividing.

$NVDA +0.9%: Jensen Huang's Tom Ford jacket just sold for $960,000 at Sotheby's, roughly 16 to 24 times the estimate. Apparently even the wardrobe now has a semiconductor multiple.

$USO: WTI is still around $81.83, down 2.6%, even as Bloomberg is flagging Houthis threatening a maritime blockade of Saudi Arabia. So the oil market is doing its usual thing: hearing geopolitical risk and briefly pretending it has a macro thesis.

$NFLX -1.9%: the same Paramount-Warner saga that lifted everyone else a little bit is now giving Netflix a small excuse to wobble. The market is still treating streaming like a game of musical chairs, just with pricier chairs and more lawyers.

$GLD +0.4%: gold is still bid above $4,000 while the dollar softens and the market keeps treating the weekend's Iran headlines as background music rather than a full-blown alarm. The metal, as usual, understands that uncertainty never really goes out of style.

$MSTR +4.8%: Strategy says it lifted its USD reserve by $225 million and now has 22 months of payments covered, which is a charmingly non-crypto way to remind everyone the company still lives and dies with Bitcoin anyway. Treasury management, but with more theater.

$BA -2.27%: Boeing is still dealing with a supply bottleneck as it tries to ramp production, so the tape gets the familiar choice between “operational fixes” and “fine, but not today.” The market, in its wisdom, picked not today.

$MSFT +1.29%: Morgan Stanley launching spot trading for Bitcoin, Ethereum and Solana is another neat little milestone in the institutionalization of crypto, which is what people call it when the product gets more normal and the pitch deck gets less embarrassing.

$MU +4.97%: Micron’s “great guidance, but not great enough” problem is doing its usual job of reminding everyone that earnings can be strong and still disappoint if the bar was already on the ceiling. Lunch-hour tape, same old market theology.

$F -0.9%: Ford keeps getting dragged back into the aluminum-F-150 mess, and now the market has a fresh excuse to stare at the pickup business like it’s a stress test. GM gets to talk tariffs and pricing discipline; Ford gets the production crisis. #Autos

$LMT +0.7%: Lockheed is rolling out PAC-3 ACE and Morpheus at Farnborough, which is a very defense-contractor way of saying 'new toys, same budget politics.' Investors appear willing to pay for the demo reel before they ask about procurement reality. #Defense

$GM +0.2%: the market is still treating tomorrow’s BMO print like a victory lap pregame — flat revenue, $5.65 billion adjusted EBIT, and tariff offsets doing a lot of the emotional labor. Pricing discipline is a lovely phrase until consumers remember they have other options. #Earnings

$XLE: VIX is down 3.2%, the Nasdaq is up 0.9%, and the Dow is lagging, which is usually the kind of tape that invites a sector-rotation lecture from someone with a chart. Energy holding the conversation while volatility backs away a little.

$TSLA -1.5%: Tesla reports earnings this week, and investors are already hunting for clues on the AI trade. Not a great sign when the stock starts answering questions before the questions are even asked.

$BABA +3.3%: Alibaba rolled out a new version of its Qwen model, and U.S. traders are treating that like a reason to revisit the China AI trade. The market, in its infinite wisdom, has decided one more model release is enough to reopen the file.

$AAPL -1.6%: Apple is slipping after holding 330, with the stock taking out Friday’s intraday lows and heading into earnings next week without much of the usual fan club at the open. If the market can be this fussy before the print, the actual report should come with a stress ball.

$META -1.3%: Meta is lower this morning while Alphabet trades up, which is a tidy way of saying investors are willing to pay for one AI story and nitpick the other. The market rarely gives two companies credit for the same idea at the same time.

$HON +2.7%: Honeywell is leading the tape after the company got mentioned in the morning rotation out of the open; with semis bouncing and the Dow barely moving, the market is doing that old thing where it briefly remembers industrials exist. Not a thesis, just a reminder that liquidity needs somewhere to go.

$GOOGL +3.3%: Bloomberg says Alphabet is up after a report that Google is working on a new server chip tied to Gemini — six to ten times more efficient, allegedly, which is the kind of number that makes every other AI capex deck look a little decorative. The stock will still have to survive earnings, obviously.

$MCO: earnings are due tomorrow before the bell, and the stock gets to report into a market that is already celebrating low volatility and high asset prices — which is usually the kind of backdrop that makes rating agencies sound either very smart or very late. The calendar says tomorrow; the tape says everyone’s feeling optimistic enough to borrow some of that optimism. #Earnings

$ANET +3%: Andas said it picked up a $6.9 million order from the Australian Department of Defense for its DTIM single-operator counter-UAS kits, and the stock is doing the usual thing where a defense contract becomes evidence of an entire thesis. The market does enjoy a small invoice if it comes with a buzzword. #Defense

$IMAX +4%: Christopher Nolan’s "The Odyssey" just turned into an IMAX commercial with a plot. $124.5 million domestic, $264 million global, and the premium-format take is doing what premium formats are built to do: make people pay more for the privilege of sitting in the loudest seat in the building. #Earnings

$IBM -1.1% pre-market: Steve Hall cut his target after IBM’s preliminary Q2 came in below expectations. Nothing quite says ‘enterprise resilience’ like a stock getting reminded that even mainframes can have a bad quarter.

$ON +2.6% pre-market: Wells Fargo cut the target on onsemi but still expects it to beat and raise again. So the bar is lower, the tape is higher, and the market’s favorite hobby remains paying for optimism it later calls ‘visibility.’

$AMC +16.5% pre-market: the chain says revenue and profit both beat, and 'The Odyssey' pulled 4.3 million people into theaters this weekend. Hollywood still occasionally remembers how to sell tickets; the market, ever eager for a comeback story, is buying the first act.

$SPY: AAOI +5.7%, WULF +5.6%, CIFR +4.9%. Bottom: RYAAY -9.0%, CRM -2.9%, NOW -2.2%. Airlines getting wrecked, AI infrastructure still bid. Good luck timing that rotation.

$CB: Chubb reports after the close today, with EPS-est at $6.89 and a six-for-six beat streak in the background. Insurance is still one of the few businesses where the market trusts the math until it doesn’t.

$SYF: Synchrony Financial reports before the bell today, with EPS expected at $2.12. Credit cards are one of those businesses where the upside is always “resilient consumer,” and the downside is suddenly very specific.

$SHW: Sherwin-Williams reports before the bell today, with EPS seen at $3.55. A paint company on the calendar is usually the market’s way of asking whether housing is still pretending to be fine.

$SPCX +0.96% pre-market: SpaceX’s IPO is the new retail hobby, because apparently buying a money-losing rocket company before breakfast is now a personality trait. The S-1 is doing the rounds and X is doing what X does — turning disclosure into a contact sport.

$RYAAY -3.40% pre-market: Ryanair's Q1 profit miss is doing the usual thing to airlines — reminding everyone that fuel hedges are not a business model, just a delay. WTI's drop to $81.40 helps, but apparently not enough to erase the quarter. #Earnings

$AMZN +0.12% pre-market: Bloomberg says the hyperscaler capex trade still has room to run, with Citi's Ron Josie talking about next year's spending projections clearing $800 billion. So yes, the market's favorite excuse to pay up for cloud names is alive and well before the open. #AI

$CMCSA: earnings before the bell tomorrow, and the tape can already do the subtraction. Comcast is carrying 5 straight beats into this print, which is usually the sort of streak that makes people talk themselves into a clean number and then discover cable exists. #Earnings

$NVDA +1.5% pre-market: chip stocks are rebounding after last week's selloff, with traders trying to decide whether this is a fresh bid or just the usual morning apology before big-tech earnings. For now, the AI trade is still being priced like a religion with a spreadsheet.

$MU +5.1% pre-market: Micron just proved again that "beat the numbers, sell the stock" is now a full-time business model. Memory demand is hot, guidance apparently wasn’t hot enough, and the bar for chips has become a limbo contest.

$INTC +2.1% pre-market: Intel is bid ahead of Thursday’s earnings, with the bar apparently still low enough for a small miracle to look like a thesis. The stock has a habit of making hope expensive, but at least this time the calendar is doing some of the work.

$AMD +3.0% pre-market: the stock is catching the chip rebound after last week’s selloff pushed semis into bear-market territory, and now everyone is suddenly rediscovering their appetite for AI spend. A classic market memory upgrade: yesterday’s panic, today’s “long-term story.”

$TSM +2.2% pre-market: Taiwan Semi keeps drifting higher after overnight chip strength and the market’s eternal belief that AI capex is a one-way street. The equipment names and foundry trade are doing what they always do when investors decide the cycle is not, in fact, a cycle.

$QQQ: pre-market traders are still trying to price the same two things at once — a more dovish inflation path if crude stays contained, and a very non-dovish rate debate after Dallas Fed’s Lori Logan said the Fed should raise. The tape usually resolves that contradiction by waiting for more data, which is finance for ‘don’t touch anything.’

$NFLX -0.48% pre-market: the only fresh catalyst here is the market calling last night’s commentary exactly what it sounded like — a quarter that was okay, not one that changed the story. No big beat, no big miss, just enough ambiguity for everyone to keep their existing view and pretend that’s analysis.

$TSLA reports Wednesday after the close, and pre-market Tesla is +0.39% while the market waits to learn whether the company can still sell a story as efficiently as it sells a stock. Given the recent miss-heavy history, that seems like a non-trivial question.

$BABA +0.16% pre-market: Alibaba says its preview model now has 2.4 trillion parameters, and the shares are doing the usual thing where a bigger number is treated like a product launch. The benchmark tests are still missing, which is a nice reminder that parameter counts are the easiest part of the business.

$GLD +0.6%: Brent has slipped from above $90 to about $88 after reports of Iran outreach to mediators cooled the latest strike-driven spike. Gold is still bid, which is a polite way of saying the market is keeping one eyebrow raised anyway. #Macro

$MS +0.0% premarket: Morgan Stanley is back in the Bloomberg tape as the bank allegedly became the chief architect of the AI-financing machine, with new debt-and-equity structures funnelling tens of billions into data-center buildouts. Nothing says a healthy trend like needing a bespoke capital stack to keep it breathing.

$XLE: Brent crude hovering around $90 a barrel after the U.S. strikes in Iran kept the oil bid alive — because nothing says “stable backdrop” like energy traders inheriting geopolitics before breakfast. #Oil #Geopolitics

$BTC -0.9% overnight, which is doing its usual job of reminding everyone that “digital gold” can also trade like a risk asset with a podcast. Friday’s wobble still has the pre-market tone cautious, even with equities green and VIX lower.

$SPY: the Fed is still being framed as hawkish, with BNP Paribas saying it could wait until after the midterms to hike — or move earlier if inflation refuses to cooperate. Stocks are pricing resilience and a policy shrug; central banks, as usual, are less interested in the chart.

$GOOGL: Alphabet reports Wednesday AMC, and the stock is only down 0.2% pre-market — which is a polite way of saying nobody wants to make a big directional bet before the numbers land. The market still has to decide whether this is a cash machine or just a very expensive science project. #Earnings

$BA +0.2% pre-market after Kelly Ortberg is set to speak at Farnborough, with investors apparently willing to treat a CEO briefing as a strategic asset class. The real question is still whether Boeing can turn “stabilized” into “shipped.” #Aviation

$SFTBY: Skyroot Aerospace’s first orbital launch is a neat reminder that not every space story needs a billion-dollar burn rate and a moonshot deck. The company says five to six launches a year would get it pad positive; markets do enjoy a business plan that at least knows where the pad is. #Asia #Markets

$ASML +0.8% in European trading: the market is still willing to pay up for the company that supplies the picks and shovels to everyone else’s AI religion. Semis aren’t getting cheaper; the bottlenecks just keep moving one layer down the stack. #AI #Earnings

$MCHI: Shanghai’s 15:00 close comes with Chinese AI competition and Moonshot AI’s Hong Kong listing plans nudging mainland sentiment, while the market quietly re-discovers that ‘efficient model’ is not the same thing as ‘efficient valuation.’ If the story sounds familiar, that is because the tape has heard it before and still changes its mind anyway.

$FXI +0.8%: Chinese internet and financials are catching a bid into the Shanghai close, helped by the broader Asia read-through from Moonshot AI’s Hong Kong IPO plans and the usual market habit of pretending a fresh listing story is a macro thesis. It is, at minimum, a reminder that investors still like optionality when the tape is doing something else.

$EWY: Samsung and SK Hynix are slipping on the idea that Alibaba’s Qwen 3.8 and Moonshot’s K3 use less memory, which is a rough way to be told your product needs fewer customers than you hoped. Korea’s chip trade is suddenly doing the math in public. #Korea #Semis

$KWEB: Alibaba’s new AI model is apparently enough to send investors rotating from hardware into software, with NetEase and Meituan catching a laggard bounce. Markets do love a narrative that lets everyone pretend last week was just a misunderstanding. #AI #China

$SKHY -0.4%: Samsung Electro-Mechanics' share class is slipping after Bloomberg said TSMC will add $100 billion to Arizona capex to meet U.S. demand and box out rivals. When the biggest foundry turns the spending dial higher, everyone else gets to explain that it was always a strategic choice. #Semis

$RYAAY +0.0%: Ryanair just posted Q1 profit after tax of €538 million, down 34% from €820 million and short of the €624 million estimate. It blamed Middle East hesitation and higher fuel costs, which is a neat way to say geopolitics has found the fare bucket before the market got to it. #Earnings

$EWJ: Brent crude is back above $90 as U.S.-Iran tensions escalate and the Strait of Hormuz starts doing what it always does best: charging a tax on everything that moves. Japan gets the invoice in yen, sooner or later. #Macro

$BABA +0.16% in the overnight session after Alibaba previewed its latest flagship AI model Kuen, with Bloomberg saying it ranks second only to Anthropic's model on Fable 5. China keeps finding new ways to make U.S. hyperscalers explain their budgets.

$NVDA +0.3%: Chinese models from Moonshot and Alibaba are pressuring the AI narrative overnight, with traders now wondering whether all those hyperscaler budgets still deserve the same reverence. NVIDIA gets to be the blue-chip on the invoice and the scapegoat in the comments section. #AI

$TSM +0.8%: TSMC says it will add another $100 billion to Arizona, because apparently the answer to every demand shock and competitive threat is just more concrete. The market can call it capex; everyone else can call it a very expensive way to stay indispensable. #Semis

$SMH: Greater China chip stocks are green again after Friday’s selloff, with SMIC, Hua Hong and MetaX all bouncing and TSMC back in the right direction despite the market’s usual talent for turning every fab update into a referendum. Sometimes the tape just wants to remember that semis are still a trade, not a philosophy seminar.

$USO: Brent is back above $90 after a ninth straight night of U.S. strikes on Iran and another casualty report over the weekend. Oil, that famously stable asset class, is reminding everyone it has opinions before breakfast.