Nasdaq called higher as 'Trump accounts' launch sees White House bell ring

• Memory stocks suffered significant losses: SanDisk fell 13%, Micron dropped 14%, and Intel declined 6.5% following news of Apple's approval to purchase memory chips from China
• June non-farm payrolls showed only 57,000 new jobs added, well below expectations with downward revisions to prior months, reducing rate hike expectations but also dimming hopes for imminent cuts
• SpaceX enters the Nasdaq 100 index effective tonight, expected to increase benchmark volatility as its quiet period ends and Wall Street firms begin publishing research coverage

Market Summary: Nasdaq Called Higher on Trump Accounts Launch

Market Opening: US futures show mixed performance for Monday's session, with Nasdaq futures up 1.1%, S&P 500 futures gaining 0.4%, and Dow Jones futures marginally down 0.04%. Technology stocks are seeing renewed investor interest.

Trump Accounts Launch: The White House will host the opening bell ceremony from the Oval Office, marking the launch of "Trump Accounts"—new tax-advantaged investment accounts designed for children. President Trump will join exchange executives for the event.

Previous Week Performance: Following a holiday-shortened week, the Dow closed Friday at a record high of 52,845 (up 1%), while the Nasdaq declined 0.8% to 25,832 points and the S&P 500 fell 0.1% to 7,476 points.

Memory Sector Weakness: Memory stocks suffered significant losses after Apple received permission to purchase memory from China. SanDisk dropped 13%, Micron fell 14%, and Intel declined 6.5% over the week.

Employment Data: June's non-farm payrolls disappointed with only 57,000 new jobs added, well below expectations, with downward revisions to prior months. Combined with lower oil prices, this has reduced rate hike expectations while diminishing hopes for immediate cuts.

Upcoming Catalysts: Earnings season begins this week with Samsung reporting Tuesday as an early indicator of AI infrastructure demand. Consumer companies including PepsiCo, Levi's, and Delta Air Lines report this week, while major banks report next week.

Index Changes: SpaceX enters the Nasdaq 100 tonight, expected to increase benchmark volatility. Wall Street firms will begin publishing research on SpaceX as the quiet period ends.

European Markets: European stocks briefly reached record highs before retreating, with London's FTSE 100 and Spain's IBEX 35 leading declines.