Wall Street headed for a mixed open Monday morning after the S&P 500's 3.5% surge to record highs last week, with July inflation data due later this week. Premarket trading was dominated by Intel's $15 billion share sale, a 45% jump in TSMC's revenue, an upgrade for Hewlett Packard Enterprise, and Boeing's sale of three autonomous-flight units to Archer Aviation.
Wall Street headed for a mixed open on Monday, a day after the S&P 500 surged 3.5% to fresh record highs the previous week. Traders still have little clarity on the timeline of an Iran deal and a reopening of the Strait of Hormuz, and July inflation data is due later this week.
Intel's share sale weighs as TSMC's AI boom lifts sentiment
Intel fell more than 3% premarket after the chipmaker said it would sell $15 billion in stock, a plan that CFO David Zinsner had said the company was considering following its July 23 earnings report. Building new manufacturing plants isn't cheap, even as Intel's data-center CPU business remains booming and cash-generative.
Meanwhile, Taiwan Semiconductor Manufacturing's July sales, released the same day, rose 45% year over year, reflecting strong AI chip demand.
HPE jumps on upgrade, Boeing reshuffles its portfolio
Morgan Stanley upgraded Hewlett Packard Enterprise to buy from hold after concluding it had misjudged the hardware market. According to Morgan Stanley: "record component inflation would quickly stymie a recovery in hardware spending" — a call the firm said it got wrong. HPE shares rose almost 5% premarket, building on a stock that had already doubled in 2026.
Elsewhere, Boeing agreed to sell three autonomous-flight subsidiaries — Wisk Aero, SkyGrid and Insitu — to Archer Aviation in exchange for a stake in Archer, while keeping access to Wisk's flight technology through a tech-sharing agreement. The deal is aligned with CEO Kelly Ortberg's mission to fix Boeing's core plane and defense businesses.
Source: US Top News and Analysis
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