Futures Rise as Dow Eyes 53,000; SK Hynix Files $28B Nasdaq Listing

US stock futures edged higher Monday, building on a record-setting week that pushed the Dow Jones Industrial Average near 53,000. The S&P 500 and Nasdaq futures also gained, driven by sector rotation out of semiconductors into financials, healthcare, and industrials. In a major development, South Korean chipmaker SK Hynix filed for a roughly $28 billion Nasdaq listing, one of the largest foreign share sales in US history, capitalizing on AI-driven demand for memory chips. Investors are now focused on the release of the first FOMC minutes under new Chair Kevin Warsh on Wednesday and the start of Q2 earnings season.

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Dow futures climb as index nears 53,000 after record-setting week US stock futures rose Monday, with the Dow Jones Industrial Average futures adding 56 points, as the index closed last week just shy of the 53,000 level. The S&P 500 and Nasdaq-100 futures gained 0.43% and 0.97%, respectively, as a broadening rally in financials, healthcare, and industrials offset continued weakness in semiconductor stocks. 1 2 3 4 5

SK Hynix files for $28 billion Nasdaq listing amid AI chip boom South Korean memory chip maker SK Hynix filed for a US stock market debut valued at roughly $28 billion, selling 17.79 million new shares on the Nasdaq. The listing, one of the largest-ever by a foreign company, aims to boost valuation and liquidity as the company benefits from surging demand for high-bandwidth memory chips used in AI systems by Nvidia and Google. 6 7

Texas Stock Exchange begins trading Monday in challenge to Wall Street The Texas Stock Exchange (TXSE), based in Dallas, launched trading on Monday in specified test stocks, marking a new challenger to the New York Stock Exchange and Nasdaq. The exchange aims to offer an alternative listing venue, particularly for companies seeking a lower-cost, less regulatory-heavy environment. 8 9

Fed minutes and Q2 earnings season kick off this week Investors are focused on the release of the Federal Reserve's June FOMC minutes on Wednesday, the first under new Chair Kevin Warsh, for clues on rate policy after soft jobs data. The Q2 earnings season also begins with reports from PepsiCo and Delta Air Lines, offering an early read on consumer demand and corporate profitability. 9 10

Wall Street bullish on second half as S&P 500 target raised Analysts remain optimistic about further stock market gains in the second half of 2026, citing a bull market driven by earnings and liquidity. JPMorgan raised its year-end S&P 500 target to 7,800, while Fundstrat's Mark Newton sees the index reaching 8,000 by mid-August, despite a pullback in semiconductor stocks. 4 11