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Major Averages Decline Amid Rising Geopolitical Tensions

The major averages were broadly lower as rising geopolitical tensions and another bout of semiconductor selling weigh on risk sentiment. President Donald Trump said he was reinstating a blockade on Iranian shipping through the Strait of Hormuz, even going so far in a social media post as to call the U.S. the "Guardian of the Hormuz Strait." Oil prices surged after the news, reviving concerns that higher energy costs could complicate the inflation outlook.Meanwhile, this week marks the unofficial start of second-quarter earnings season, with major U.S. banks set to report over the next several days. Investors also have an eye on upcoming June CPI and retail sales data, along with congressional testimony from Federal Reserve Chair Kevin Warsh.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Appleis suing OpenAI, accusing the ChatGPT maker and its hardware chief Tang Tan of engaging in a coordinated effort to steal secret trade information about upcoming products,MGM Resortshas been in talks over a potential deal with Barry Diller's People Incorporatedafter the media mogul offered to acquire the casino giant,Williamsin its Power Innovation joint venture from BlackstoneFirst HawaiianTriCo Bancsharesin an all-stock transactionShellSprng Energy to Aditya Birla Renewables for $1.8B2. WALL STREET CALLS:Shopifyto Buy from Hold at JefferiesBofAPapa John'sto Underperform, says management turnover raises uncertaintyAmerican Expressto Overweight from Neutral at JPMorganTravelersto Sell from Hold at TD CowenDeckers Outdoorto Buy from Hold at Jefferies3. AROUND THE WEB:Multiple states, including California, are expected to file suit today to challenge the Paramountand Warner Bros.deal, sources told CNBC's David FaberGoogleis expanding sales of its AI TPUs to external cloud providers as a lower-cost, more reliable alternative to NvidiaGPUs, intensifying competition even as Nvidia remains the dominant supplier of AI infrastructure, Information reportsDisney'slive-action "Moana" was set to collect $43M at the domestic box office from Thursday to Sunday, but originally the company had been aiming for $60M or more, NY Times reportsAT&Twill pay $184.1M to settle a lawsuit accusing the company of shortchanging 300,000 employees out of pension payments, Reuters reportsSK HynixCEO Kawk Noh-jung said he believes the global memory industry is heading into its "worst year" during its supply shortage in 2027, with the demand for memory continuing to exceed the company's ability to produce it, Reuters says4. MOVERS:Q32 Biohigher after reporting 36-week topline results from itsConmedgains afterthe company is weighing its options amid takeover interest from private equity firmsZoomInfoincreases afterOn Semifalls after TD Cowenon the stockIonis Pharmaceuticals (IONS) lower afterin its Phase 1-2 ASCEND study5. EARNINGS/GUIDANCE:Hillman Solutionsand backed its guidance for FY26LogProstyle, with EPS lower year-over-yearASMLon July 15TSMCon July 16JPMorgan Chaseon July 14INDEXES:Near midday, the Dow was down 0.20%, or 106.78, to 52,530.23, the Nasdaq was down 1.03%, or 270.88, to 26,010.73, and the S&P 500 was down 0.46%, or 34.47, to 7,540.92.

Markets Start Cautiously, SK Hynix Shares Down 16%

Markets are starting the week on a cautious note as rising geopolitical tensions and another bout of semiconductor selling weigh on risk sentiment. U.S. stock futures are lower across the board, with the Nasdaq leading declines as chipmakers come under renewed pressure. At the same time, crude oil prices are climbing after the latest escalation between the U.S. and Iran, reviving concerns that higher energy costs could complicate the inflation outlook.Shares of SK Hynix fell sharply in South Korea following last week's blockbuster U.S. debut, dragging down the broader chip sector. The selloff has spread to U.S. memory-chip makers and AI-related names.Oil prices surged after renewed military strikes between the U.S. and Iran and Tehran's claims that the Strait of Hormuz would be closed to shipping. While the long-term impact on global energy supplies remains uncertain, the move has pushed energy stocks higher while increasing worries that another jump in fuel prices could slow progress on inflation.The week also marks the unofficial start of second-quarter earnings season, with major U.S. banks set to report over the next several days. Investors will also receive June CPI and retail sales data, along with congressional testimony from Federal Reserve Chair Kevin Warsh.In pre-market trading, S&P 500 futures fell 0.40%, Nasdaq futures fell 1.16% and Dow futures fell 0.15%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -TriCo Bancsharesup 7% after entering into a definitive agreement pursuant to which First Hawaiian will acquire the company in an all-stock transaction.Shopifyup 2% after Jefferies upgraded the stock to Buy with a price target of $160, up from $140MGM Resortsup 2% after The Wall Street JournalMGM has been in talks over a potential deal with Barry Diller's People Incorporatedafter the media mogul offered to acquire the casino giantFastenalup 1% after Rothschild & Co Redburn initiated coverage of shares with a Buy rating and $55 price targetDeckers Outdoorup 1% after Jefferies upgraded the stock to Buy with a price target of $130, up from $110LOWER -SK Hynixdown 16% after its Friday IPO in the U.S.First Hawaiiandown 6% after entering into a definitive agreement pursuant to which the company will acquire TriCo Bancshares in an all-stock transaction