{
  "type": "article",
  "title": "Wall Street Reopens On July 6 After Holiday Break, But A Chip Stock Rout Casts A Shadow Over Tech",
  "summary": "After staying shut on July 3 for the holiday, Wall Street resumes trading on July 6. A sharp selloff in chipmakers and rising doubts over AI valuations point to a volatile week ahead, with a cautious tone hanging over the tech sector.",
  "content": "If you follow the US stock market, here is the key thing to know: after being closed on July 3 for Independence Day, Wall Street will be open for normal trading on July 6, 2026. The holiday lists of the New York Stock Exchange and Nasdaq for 2026 show only one special trading holiday, and that was July 3 for Independence Day. In other words, activity returns to the trading floor from Monday.\n\nHow the market behaves next week depends on several moving parts. Trading is likely to stay volatile overall, with a cautious tone in tech sectors. Geopolitical developments between the US and Iran, economic data and corporate earnings will all play a role in steering sentiment.\n\nWho Led The Pack Last Week\nLast week the Nasdaq Composite jumped more than 2.1%, outperforming its counterparts, the Dow Jones and the S&P 500, which gained 2% and 1.8% respectively. There is one notable wrinkle, though: the Nasdaq Composite is sitting below its 50-day simple moving average, while the Nasdaq 100 is just above it.\n\nOn July 2, the Dow Jones closed at 52,900.07, posting a strong gain of 594.83 points, or 1.14%. That advance came after the index hit a fresh all-time high of 52,903.85.\n\nThe S&P 500, meanwhile, finished broadly flat at 7,483.24. But the bulls stayed away from indexes like the Nasdaq and the Nasdaq 100. The tech-heavy Nasdaq Composite ended July 2 at 25,832.67, a drop of 207.36 points or 0.80%. The hardest hit was the Nasdaq 100, which crashed 479.92 points, or 1.61%, to close at 29,329.21.\n\nWhy Chip Stocks Were Hammered\nThe slide in the Nasdaq Composite and the Nasdaq was driven mainly by a continued selloff in chipmakers. It was the second straight day of losses for chip stocks, as investors began questioning whether AI optimism had pushed valuations well beyond reasonable levels.\n\nFresh developments added to the pressure. There was word that OpenAI was in talks to sell a 5% stake to the US government, while Meta (-4.9%) signalled it may monetize its excess compute capacity. Micron sank 7%, Applied Materials slipped 7.4% and AMD fell 4.3%. Despite a strong deliveries report, Tesla dropped 7.5%.\n\nWhat To Watch Next Week\nAccording to Nathan Peterson, Director of Derivatives Research and Strategy at Charles Schwab, the focus in the July 6 to July 10 trading week will be on the economic and earnings calendar. As a result, near-term technicals, Middle East headlines, oil prices and yields are likely to have a larger influence on the market's direction.\n\nHe added, \"July seasonality favors the bulls, but I'm wondering if that will be enough of a factor to offset the wobble we're seeing in the momentum/AI infrastructure trade.\"\n\nPeterson also pointed out that the near-term technicals look bifurcated from his lens. The S&P Equal Weight Index (SPXEW), Russell 2000 (RUT) and Dow Jones Industrial Average (DJI) look bullish, but the Nasdaq Composite ($COMP) dropped back below its 50-day Simple Moving Average (SMA) on July 2, and the SOX firmly broke its uptrend the same day. The Nasdaq 100 (NDX) is just above its 50-day SMA at the time of writing, so more time is needed to make a technical determination.\n\nHe said, \"On the one hand, I could see a bounce in the chips stocks early in the week given the two-day 12% drop in the SOX, but I'm not sure how sustainable that bounce would be given the recent technical deterioration. Therefore, I'm providing a 'Higher Volatility' forecast for the overall market next week, with a 'cautious' stance on tech.\"\n\nAll told, even with the Dow at record highs and smaller stocks looking firm, the weakness in chip and AI-linked names remains the biggest worry hanging over the market for the week ahead.\n\nWhat this means for you\n• For investors: A volatile week is likely, so anyone holding tech and chip stocks should brace for sharp swings.\n• For AI stock bettors: The steep falls in Micron, AMD and Tesla suggest that stretched valuations could still trigger more profit-taking and jolts ahead.\n\nQuestions & Answers\n\n1. Will the US stock market be open on July 6?\nYes, Wall Street will trade normally on July 6, 2026. The market was closed only on July 3 for Independence Day.\n\n2. Where did the Dow Jones close on July 2?\nThe Dow Jones closed at 52,900.07, up 594.83 points or 1.14%, and it also touched a new all-time high of 52,903.85.\n\n3. What mainly drove the Nasdaq lower?\nA second straight day of selling in chipmakers was the main reason, as investors began doubting whether AI valuations had climbed too high.\n\n4. Which stocks fell the most last week?\nMicron dropped 7%, Applied Materials 7.4%, AMD 4.3% and Tesla 7.5%, while Meta fell 4.9%.\n\n5. What is Nathan Peterson's forecast for next week?\nHe is calling for a 'Higher Volatility' outlook for the overall market and a 'cautious' stance on tech.\n\n6. Which index performed best last week?\nThe Nasdaq Composite led with a jump of more than 2.1%, outperforming the Dow Jones and the S&P 500.",
  "url": "https://trendkia.com/en/market/chhutti-ke-bada-6-julai-ko-khulega-ameriki-bajara-chipa-sheyaron-ki-pitai-se-teka-sektara-para-mndaraya-khatara-4826",
  "category": "Market",
  "publishedAt": "2026-07-05",
  "tags": [
    "US stock market",
    "Nasdaq",
    "Dow Jones",
    "S&P 500",
    "chip stocks",
    "AI valuations",
    "Wall Street",
    "market outlook"
  ],
  "language": "en",
  "site": "TrendKia"
}