Swingfolio Daily — US Markets
US briefings — Tuesday, July 7, 2026
Pre-market setup and closing-bell recap for Tuesday, July 7, 2026. Observations only — no trade advice.
Tuesday, July 7, 2026
US Pre-Market, July 7: Chip Selloff Pulls Nasdaq Futures Down 0.9% as Samsung Slides on Demand Fears
US index futures point lower before the July 7 open after a semiconductor selloff that began in Asia. Nasdaq 100 futures are down about 0.9% and S&P 500 futures 0.2%, while Dow futures hold roughly flat a day after the Dow's first close above 53,000. Samsung Electronics posted a record quarterly profit but fell about 9.6%, dragging South Korea's Kospi down 4.9%, and Micron led US chipmakers lower pre-market. The May trade balance is due at 8:30am ET, with the June Fed minutes on Wednesday.
Chip selloff drags Nasdaq 1.16% lower as Samsung and DeepSeek hit semiconductors
A semiconductor selloff sparked by Samsung's Q2 memory earnings and reports that DeepSeek is building its own AI chip pulled the Nasdaq down 1.16% and the S&P 500 down 0.45% on 7 July 2026. INTC.US fell 9.66% while NVDA.US held at +0.71%. Money rotated into energy (+2.84%) and health care (+1.53%). Vertex agreed to buy Crinetics (CRNX.US +98.74%) for $10 billion.