Supreme Court will hear challenge to limits on political party spending
The Supreme Court will hear a significant campaign finance case next term that will examine whether it violates the Constitution to restrict the amount of money that political parties can spend in coordination with individual candidates.
The national Republican senatorial and congressional committees, then-Sen. JD Vance (R-Ohio) and then-Rep. Steve Chabot (R-Ohio) filed suit over the limits in 2022, saying they conflict with the free speech rights guaranteed by the First Amendment.
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Axios
12 minutes ago
- Axios
Environmental permitting review narrowed in wake of Supreme Court decision
Federal agencies on Monday began rolling out updates to the National Environmental Policy Act (NEPA) procedures in the wake of a presidential order and Supreme Court decision narrowing the scope of those requirements. Why it matters: The changes mean fewer projects will need environmental reviews and regulators will have less time to identify potentially significant environmental consequences of major infrastructure projects. Industry groups and their supporters have long complained that NEPA reviews have grown beyond what Congress intended, often dragging out the approval process. Driving the news: The Defense Department, Energy Department, Agriculture Department and other agencies published new NEPA guidance, which each hailed as cutting unnecessary red tape. "These reforms replace outdated rules with clear deadlines, restore agency authority, and put us back on the path to energy dominance, job creation, and commonsense action," Energy Secretary Chris Wright said in a statement. "Build, baby, build!" The proposed changes at DOE include reducing the maximum time for completion of an environmental assessment through an environmental impact statement from three years to two. DOE employees also are directed to maximize use of a streamlined process known as "categorical exclusions" for activities that are not seen as harming the environment. The Agriculture Department also said it is rescinding seven agency-specific regulations, resulting in a 66% reduction in regulations. "This will allow USDA officials to concentrate resources on projects the public needs while also ensuring we honor the department's legacy of land stewardship," the department said in a statement. Context: President Trump, on his first day in office, initiated major changes aimed at reducing NEPA burdens. They included an interim final rule to repeal White House Council for Environmental Quality NEPA regulations and guidance directing agencies to update NEPA regulations and procedures. The Supreme Court in May also reduced the scope of reviews under NEPA to focus only on immediate impacts. At issue in Seven County Infrastructure Coalition v. Eagle County was whether the federal Surface Transportation Board should assess climate change impacts when authorizing a railway seeking to connect Utah's crude oil to the national rail network and on to Gulf Coast refineries. Justices determined that the U.S. Court of Appeals for the D.C. Circuit went too far in requiring regulators to look at potential effects on Gulf Coast communities.
Yahoo
14 minutes ago
- Yahoo
Nebraska U.S. Rep. Don Bacon again in middle of fight for big Trump bill
Once again, Nebraska's 2nd Congressional District Republican, U.S. Rep. Don Bacon, finds himself in position to cast a potentially pivotal vote. (Zach Wendling/Nebraska Examiner) OMAHA — President Donald Trump and Republican leadership in Congress are pushing a presidential-pressured deadline of July 4 to send a 'big' tax and spending bill that Trump calls 'beautiful' to the president's desk. And once again, Nebraska's Omaha-based 2nd Congressional District Republican, U.S. Rep. Don Bacon, finds himself in position to cast a potentially pivotal vote, after expressing concerns over Senate Republicans' efforts to find more cuts to Medicaid in their version of the bill to offset the rising costs of the mega-bill. The bill would make the tax cuts from the first Trump administration permanent, cementing most of its benefits for high earners. It also introduces some new temporary tax breaks for workers earning less, boost funding for immigration enforcement, start funding Trump's 'Golden Dome' missile defense program and accomplish other goals from Trump's domestic agenda. The bill also cuts the social safety net, adding new requirements for Medicaid and food stamps. The Trump tax bill has multiple provisions that several different groups of Republicans have issues with, which have caused Republican leadership on the Hill to try to wrangle Congress and House Republicans to be lockstep. Bacon told the Examiner in recent days that he had received assurances that the bill would not degrade the quality of healthcare for people covered by Medicaid. He also was part of a group of 16 House Republicans who said they won't support the Senate's reconciliation bill if it cuts the Medicaid provider tax rate 'I love Senator Ricketts and Senator Fisher, but hearing, 'We got to put our own fingerprints on the bill,'' Bacon said, 'Well, please don't do it on Medicaid, put your fingerprints on some other places.' After some hiccups with some parliamentary rulings, Senate Republicans appear to be on track to pass their version and send it back to the House later this week, in time for Trump's deadline. Congressional experts have estimated that the package would add $3.253 trillion to the debt during the next decade, according to an analysis by the nonpartisan Congressional Budget Office. Some Senate Republicans have proposed cutting more from Medicaid via an amendment that would reduce federal government spending on Medicaid in states that expanded the program as a result of the Democrats' 2010 health care law. Voters in Nebraska and a combination of voters and legislators in 40 states, in addition to the District of Columbia, have supported Medicaid expansion, according to the health care research organization KFF. The House version introduces Medicaid's new work requirement, shortening the enrollment period and eliminating what Republicans describe as 'waste, fraud and abuse' in the system by adding more paperwork. The proposed change in the House version, also in the Senate bill, would require able-bodied people and working-aged individuals to show the government proof of employment to remain on the program every six months. The Congressional Budget Office has estimated that 5.2 million adults would lose Medicaid coverage due to the stricter requirements, which are expected to save the federal government $280 billion over six years. Bacon said he can 'defend that all day long.' 'We're doing smart savings and protecting those who need it under the house plan,' Bacon said in an interview late last week. Bacon said the Medicaid cuts that the Senate is proposing are undermining the strength of the GOP's argument of going after 'fraud and abuse' and also emphasized that he didn't like specific provisions in the bill, such as those related to SNAP. For months, state lawmakers, left-leaning political advocacy organizations, medical professionals, activists and some everyday Nebraskans have expressed concerns about the 'disastrous' consequences of the 'one, big beautiful bill's' Medicaid cuts for healthcare access and rural hospitals. Angie Lauritsen, state director of the political advocacy group Nebraska For Us, said Bacon has sided 'with the ultra-wealthy over the Nebraskans he was elected to serve' but said he could 'redeem' himself. 'Does he want to stand with the ultra-wealthy or will he finally put working families first?' Lauritsen said. Scrutiny of Bacon's position on the bill could prove less effective after news broke that the retired Air Force brigadier general is not seeking reelection in 2026, causing political shockwaves as he represents one of the nation's most competitive congressional districts. Bacon has been pushing back on the Senate version of the bill, as both Nebraska senators — U.S. Sens. Deb Fischer and Pete Ricketts do interviews on the importance of preserving Trump's tax cuts. 'We want to make sure [we] deliver on our promises to the American people,' Fischer said on Fox News. 'We can't see these tax cuts expire.' Few places have faced more political pushback to the bill than in swing districts like Nebraska's 2nd District, with its slight GOP tilt. A bipartisan group of state lawmakers in Nebraska expressed concerns in a letter to Nebraska' U.S. senators over how the Trump Tax would impact SNAP. Republicans and Trump have pushed back on the framing of the reductions as cuts. They say they are targeting abuses. At least one of the most recent Senate versions would require states to cover some of the costs of SNAP benefits, which are currently mostly funded by the federal government. Senate Republicans are also considering additional reductions to the program than the House version, which independent analysis shows would likely cut at least 3 million people from the program. U.S. Rep. Don Bacon will not seek reelection in Nebraska's 2nd District 'Nebraska would be on the hook for approximately $16 million in benefit costs and an additional $12.1 million in administrative expenses to maintain program operations,' the letter from Nebraska lawmakers read. 'These policy choice dynamics would put significant pressure on our state budget and may result in reduced benefits or more restrictive eligibility.' Bacon said he wouldn't know how he would vote until the Senate had passed its amended version. Bacon has emphasized that he has received concessions or reassurances from House leadership for his vote. As Bacon told the New York Times earlier this month — he 'doesn't like voting 'no' but likes 'fixing things.' He also told the national outlet that he was a 'no' on advancing a White House request to claw back $9.4 billion that the federal government had already approved for international aid and public media funding — but flipped his vote after 'reassurances' of some funding for AIDS help and public media. He also told the national outlet that he wouldn't follow his party 'off the cliff.' Multiple polls indicate that Trump's signature piece of legislation is unpopular among Americans who are aware of it. Former White House employee Elon Musk has criticized the legislation, saying it would 'destroy millions of jobs in America and cause immense strategic harm' to the nation. He has been especially critical of how much it adds to the national deficit and debt. For Bacon, he said he liked the direction the Senate version was taking. 'I've had a lot of media saying, Are you going to support the Senate's version?' Bacon said. 'I don't … know.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
17 minutes ago
- Yahoo
Stock market today: S&P 500, Nasdaq jump to fresh records, capping stunning second-quarter comeback
US stocks climbed to fresh records on Monday amid signs of progress in trade talks, ending one of the most volatile first halves of a year in recent memory. The Dow Jones Industrial Average (^DJI) rose over 0.6%. The tech-heavy Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) moved up about 0.5%, with both indices notching new record highs as the benchmark index closed above 6,200 for the first time. Big Tech giants Nvidia (NVDA) and Meta (META) hit their own fresh records. The S&P 500 and the Nasdaq Composite last week had clinched new record highs for the first time since February — the start of the year's tariff-fueled stock swings. Stocks started a holiday-shortened week on an upbeat note as hopes rose that the US and its top trading partners are closing in on deals over the sweeping tariffs introduced by President Trump. Canada scrapped a digital services tax targeting US tech companies late on Sunday — just hours before it was set to start collecting payments — in a bid to revive stalled trade negotiations. The easing in odds of a global trade war comes as a July 9 deadline looms for the resumption of sweeping US "reciprocal" tariffs, which Trump on Sunday said he didn't think he'd need to extend. So far, his administration has hammered out only two accords — not full-blown agreements — with China and the UK, with the British tariff deal going into effect on Monday. Meanwhile, market watchers are closely following Senate negotiations over Trump's proposed $4.5 trillion tax cut bill, as Republican leaders race to persuade party holdouts to back the legislation. The Congressional Budget Office estimates it would add $3.3 trillion to the deficit over a decade, as it stands. The Senate was voting on dozens of amendments in a marathon session on Monday. Meanwhile, the 10-year Treasury yield (^TNX) fell about 5 basis points to 4.23%. Looking ahead, the June jobs report on Thursday will be a highlight, as markets increasingly grow optimistic that the Federal Reserve could lower interest rates soon. But the week's trading will be cut short, as markets will close at 1 p.m. ET on Thursday, and remain shut on Friday for the Fourth of July holiday. Yahoo Finance's Josh Schafer reports: Read more here. Microsoft (MSFT) and Meta (META) touched all-time highs on Monday as Big Tech companies led modest gains. Meta was poised to close at a new record after CEO Mark Zuckerberg announced a restructuring of the company's artificial intelligence group. Microsoft and Meta have risen by double-digit percentages year to date, while AI giant Nvidia (NVDA) hit fresh records last week. President Trump broke new ground in his ongoing calls for Fed Chair Jerome Powell to cut interest rates — the president sent a signed note to the Fed chair. In a post on Truth Social, the social network owned by Trump, the president again called for Powell and the Federal Reserve to cut interest rates, writing that Powell and the Fed's Board of Governors "should be ashamed of themselves for allowing this to happen to the United States." Trump added that the Fed should cut rates to 1%. Earlier this month, the Fed kept its benchmark interest rate in a range of 4.25%-4.5%. Trump's post included a signed picture of global central bank interest rates that showed the nearly three dozen global central banks that have set benchmark rates below the Fed. White House press secretary Karoline Leavitt confirmed in a press conference Monday that this signed table was sent to Powell. Trump's latest barbs at Powell come as speculation over who will replace Powell as Fed chair next year continues to heat up. During an interview on Bloomberg earlier on Monday, Treasury Secretary Scott Bessent suggested there are people already at the Fed being considered to take Powell's role as chair. Bessent added that there are other strategies Trump could pursue, such as filling the open seat on the Fed's Board of Governors, that could exert pressure on Powell before his term as chair is up next May. As Yahoo Finance's Jennifer Schonberger has reported, former Fed government Kevin Warsh, current Fed governor Christoper Waller, National Economic Council Director Kevin Hassett, former World Bank president David Malpass, and Bessent are candidates that have been discussed to replace Powell, according to people close to the administration. Shares of Robinhood (HOOD) spiked more than 11% on Monday, setting the stock up to close at a record high, after the trading platform said it has launched tokenized trading for more than 200 US stocks and ETFs in the European Union. The announcement continues Robinhood's push into crypto, using blockchain technology to allow European investors to trade the commission-free tokens around the clock, five days a week. Yahoo Finance's Brian Sozzi reports: Read more here. BNB Paribas downgraded Alphabet stock (GOOGL, GOOG) to Neutral from Buy on Monday. 'Google has come a long way since then in developing its Gemini offering, culminating in the recent successful launch of Gemini 2.5 pro model,' analyst Stefan Slowinski wrote. 'However, monetisation of Gemini remains limited for now.' The analysts wrote that 'Alphabet will be an eventual GenAI winner as it has the entire 'stack'' but that they fear 'GenAI investments could slow EPS growth.' Slowinski lowered his price target on the stock to $172 from $213. The stock traded flat on Monday at around $178 per share and is down more than 6% for the year, underperforming its 'Magnificent Seven' peers. Slowinski also wrote: 'In addition, business model transition risks may weigh on top line Search Advertising growth as Google sees fewer Search clicks, and explores new monetisation approaches like AI Overviews, AI Mode, Live Search and the Gemini Assistant.' Meta (META) stock was on pace to close at a record high on Monday for the first time since February. Shares hit an all-time intraday high just north of $748 each. Meta has outperformed the rest of the "Magnificent Seven" stocks year to date, gaining 26% compared to a 17% increase in AI chip giant Nvidia (NVDA), which is also hovering at record highs. Meta has been doubling down on AI, recently investing in the startup Scale AI ( As part of the deal, Scale AI CEO Alexandr Wang will reportedly join Meta's AI research lab focused on pursuing "superintelligence." The first half of 2025 marked a triumphant return of crypto optimism. From President Trump's crypto-friendly stance and his appointment of a new SEC chair to the first couple's own controversial coins, momentum in the industry returned, helping boost bitcoin to record highs near $112,000. Yahoo Finance's Ines Ferré reports: Read more here. Morgan Stanley (MS) analysts wrote in a note to clients Sunday that they are bullish on Nvidia (NVDA) stock and "looking through" concerns over bottlenecks in its supply chain that could lead the chipmaker to produce GPUs faster than its suppliers can build them into server racks. After meeting with industry contacts in Taiwan and Beijing, analyst Joseph Moore wrote that Nvidia's supply chain is "strong near term" but "mixed longer term." "Near-term data points from several supply chain participants suggest strength in AI, but significant skepticism about 2026 remains," Moore wrote. "That skepticism is driven by the same concerns we hear about from US investors — chip production ahead of various supply bottlenecks will lead to excess inventory by year end." "The reason we are looking through these concerns is that our contacts point to very strong demand for all Blackwell form factors, and supply bottlenecks across racks and power management easing materially," the analyst added. Moore said Nvidia is his top pick of chip stocks. The Financial Times reported in late May that Nvidia's suppliers had resolved technical issues that had delayed shipments of its Blackwell AI servers and threatened the chipmaker's annual sales targets. Nvidia stock last week notched a new record high. Shares fell fractionally Monday morning. Hewlett Packard Enterprise stock (HPE) jumped more than 13% Monday morning following news over the weekend that the company had settled a case with the US Department of Justice. The DOJ sued HPE — one of the largest makers of wireless networking systems — in January to block the company's proposed $14 billion acquisition of another company in the industry, Juniper Networks (JNPR). Juniper Networks shares were up 8% early Monday. The settlement "paves the way to close HPE's acquisition of Juniper Networks," HPE CEO Antonio Neri said in a statement Saturday. Juniper has a "strong position" in the artificial intelligence space, Bank of America's Wamsi Mohan wrote in a note to clients Monday. With the acquisition of Juniper, HPE is "positioned to offer an end-to-end networking and AI infrastructure stack that can better compete in AI-enabled datacenter and cloud-edge environment," boosting the company's earnings over the long term. Stocks moved higher at the market open Monday to start a holiday-shortened week, set to notch fresh records amid rising hopes for US trade deals ahead of the July 9 deadline. The Dow Jones Industrial Average (^DJI) rose roughly 0.5%. The S&P 500 (^GSPC) moved up about 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) jumped about 0.4%. Oracle stock soared more than 7% and was set to start the trading session at a new intraday high after the software giant disclosed in a filing to the Securities and Exchange Commission that it had signed new cloud services agreements. 'Oracle is off to a strong start in FY26," CEO Safra Catz will tell other Oracle colleagues later today, according to the filing. "Our MultiCloud database revenue continues to grow at over 100%, and we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in FY28." In its fiscal year 2025, which ended May 31, Oracle's revenue was $57.4 billion. The company partnered with OpenAI ( and SoftBank (SFTBY) to launch the highly publicized $500 billion Stargate project, building AI data centers earlier this year, but the project has stalled. Solar stocks fluctuated in premarket trading Monday after it emerged that the Senate's draft version of the tax and spending bill, which slashes wind and solar tax credits, also now contains a tax on wind and solar projects completed after 2027 that use components from China. The tax on renewable projects came as a surprise to the industry, which largely relies on China to source components from batteries to solar panels. A statement from the American Clean Power Association said the effect would be to "strand hundreds of billions of dollars in current investments." The latest provision comes after solar stocks were hit two weeks ago when lawmakers moved to phase out tax breaks for the industry sooner than expected. Shares of NextEra Energy (NEE) dropped 4% while Enphase Energy (ENPH) stock fell 2.6%. The Invesco Solar ETF (TAN) declined 1.5%. However, there were some bright spots for certain renewable stocks. US-based First Solar (FSLR) rose 7%, while GE Vernova (GEV), which offers wind technologies, added 1.1%. And Sunrun (RUN) gained 7% while SolarEdge Technologies (SEDG) advanced 0.5% due to a short-term extension of residential solar tax credits. Read more here. Several altcoins are faltering this year as bitcoin's share of the crypto market has climbed to 64%, the highest level since January 2021. Bloomberg reports: Read more here. INmune Bio stock (INMB) tanked 60% in premarket trading on Monday after the company said its experimental drug, XPro, failed to improve cognitive functions in patients with early stages of Alzheimer's in a mid-stage study. The drug is designed to target and inhibit inflammatory signals associated with a type of protein called tumor necrosis factor without suppressing the immune system, Reuters reported. Read more here. Disney stock (DIS) rose about 2% in premarket trading Monday after Jefferies analyst James Heaney upgraded the stock. Heaney sees Disney's cruise business, content slate, and parks business fueling a rally in shares over the summer. Yahoo Finance's Brian Sozzi writes: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Earnings: No notable earnings releases. Economic data: MNI Chicago PMI (June); Dallas Fed manufacturing activity Here are some of the biggest stories you may have missed over the weekend and early this morning: Warring GOP puts Trump tax bill to marathon Senate vote today Canada scraps digital services tax that Trump slammed Disney's stock has bagged a Jeffries upgrade — here's why Week ahead: Crucial jobs report looms with stocks at records Trump: TikTok buyer group found, needs China's OK Nvidia insiders cash out $1bn worth of shares Bitcoin soars, altcoins fade in $300 billion crypto shakeout China's economy shows surprising signs of strength Yahoo Finance's Josh Schafer lays out what investors should know about the week ahead: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Hewlett Packard Enterprise Company (HPE) stock rose 6% in premarket trading on Monday following the news that HPE and Juniper Networks have reached an agreement with the US Department of Justice that it will not challenge HPE's acquisition of Juniper. Palantir (PLTR) stock rose 5% before the bell and are trading at an all-time high, up 90% this year. Yahoo Finance Anchor Julie Hyman recently broke down the stock's history on a episode of Market Domination Overtime: Juniper Networks, Inc. (JNPR) stock rose 8% premarket after the DOJ said it would not pursue an investigation into HPE's acquisition of Juniper. As earning season approaches, Goldman Sachs (GS) said on Monday that US profit margins will be tested as investors await to see how President Trump's war has hurt companies. Goldman's David Kostin said Q2 earnings will show the immediate impact of tariffs, which have risen about 10% this year. Most costs will be passed on to consumers, but margins will suffer if firms absorb more than expected. Early results are mixed: General Mills (GIS) stock fell 5% last week due to a weak forecast and tariff warning, while Nike (NKE) rose 15% after announcing it will offset higher duties. Bloomberg News reports: Read more here. Yahoo Finance's Josh Schafer reports: Read more here. Microsoft (MSFT) and Meta (META) touched all-time highs on Monday as Big Tech companies led modest gains. Meta was poised to close at a new record after CEO Mark Zuckerberg announced a restructuring of the company's artificial intelligence group. Microsoft and Meta have risen by double-digit percentages year to date, while AI giant Nvidia (NVDA) hit fresh records last week. President Trump broke new ground in his ongoing calls for Fed Chair Jerome Powell to cut interest rates — the president sent a signed note to the Fed chair. In a post on Truth Social, the social network owned by Trump, the president again called for Powell and the Federal Reserve to cut interest rates, writing that Powell and the Fed's Board of Governors "should be ashamed of themselves for allowing this to happen to the United States." Trump added that the Fed should cut rates to 1%. Earlier this month, the Fed kept its benchmark interest rate in a range of 4.25%-4.5%. Trump's post included a signed picture of global central bank interest rates that showed the nearly three dozen global central banks that have set benchmark rates below the Fed. White House press secretary Karoline Leavitt confirmed in a press conference Monday that this signed table was sent to Powell. Trump's latest barbs at Powell come as speculation over who will replace Powell as Fed chair next year continues to heat up. During an interview on Bloomberg earlier on Monday, Treasury Secretary Scott Bessent suggested there are people already at the Fed being considered to take Powell's role as chair. Bessent added that there are other strategies Trump could pursue, such as filling the open seat on the Fed's Board of Governors, that could exert pressure on Powell before his term as chair is up next May. As Yahoo Finance's Jennifer Schonberger has reported, former Fed government Kevin Warsh, current Fed governor Christoper Waller, National Economic Council Director Kevin Hassett, former World Bank president David Malpass, and Bessent are candidates that have been discussed to replace Powell, according to people close to the administration. Shares of Robinhood (HOOD) spiked more than 11% on Monday, setting the stock up to close at a record high, after the trading platform said it has launched tokenized trading for more than 200 US stocks and ETFs in the European Union. The announcement continues Robinhood's push into crypto, using blockchain technology to allow European investors to trade the commission-free tokens around the clock, five days a week. Yahoo Finance's Brian Sozzi reports: Read more here. BNB Paribas downgraded Alphabet stock (GOOGL, GOOG) to Neutral from Buy on Monday. 'Google has come a long way since then in developing its Gemini offering, culminating in the recent successful launch of Gemini 2.5 pro model,' analyst Stefan Slowinski wrote. 'However, monetisation of Gemini remains limited for now.' The analysts wrote that 'Alphabet will be an eventual GenAI winner as it has the entire 'stack'' but that they fear 'GenAI investments could slow EPS growth.' Slowinski lowered his price target on the stock to $172 from $213. The stock traded flat on Monday at around $178 per share and is down more than 6% for the year, underperforming its 'Magnificent Seven' peers. Slowinski also wrote: 'In addition, business model transition risks may weigh on top line Search Advertising growth as Google sees fewer Search clicks, and explores new monetisation approaches like AI Overviews, AI Mode, Live Search and the Gemini Assistant.' Meta (META) stock was on pace to close at a record high on Monday for the first time since February. Shares hit an all-time intraday high just north of $748 each. Meta has outperformed the rest of the "Magnificent Seven" stocks year to date, gaining 26% compared to a 17% increase in AI chip giant Nvidia (NVDA), which is also hovering at record highs. Meta has been doubling down on AI, recently investing in the startup Scale AI ( As part of the deal, Scale AI CEO Alexandr Wang will reportedly join Meta's AI research lab focused on pursuing "superintelligence." The first half of 2025 marked a triumphant return of crypto optimism. From President Trump's crypto-friendly stance and his appointment of a new SEC chair to the first couple's own controversial coins, momentum in the industry returned, helping boost bitcoin to record highs near $112,000. Yahoo Finance's Ines Ferré reports: Read more here. Morgan Stanley (MS) analysts wrote in a note to clients Sunday that they are bullish on Nvidia (NVDA) stock and "looking through" concerns over bottlenecks in its supply chain that could lead the chipmaker to produce GPUs faster than its suppliers can build them into server racks. After meeting with industry contacts in Taiwan and Beijing, analyst Joseph Moore wrote that Nvidia's supply chain is "strong near term" but "mixed longer term." "Near-term data points from several supply chain participants suggest strength in AI, but significant skepticism about 2026 remains," Moore wrote. "That skepticism is driven by the same concerns we hear about from US investors — chip production ahead of various supply bottlenecks will lead to excess inventory by year end." "The reason we are looking through these concerns is that our contacts point to very strong demand for all Blackwell form factors, and supply bottlenecks across racks and power management easing materially," the analyst added. Moore said Nvidia is his top pick of chip stocks. The Financial Times reported in late May that Nvidia's suppliers had resolved technical issues that had delayed shipments of its Blackwell AI servers and threatened the chipmaker's annual sales targets. Nvidia stock last week notched a new record high. Shares fell fractionally Monday morning. Hewlett Packard Enterprise stock (HPE) jumped more than 13% Monday morning following news over the weekend that the company had settled a case with the US Department of Justice. The DOJ sued HPE — one of the largest makers of wireless networking systems — in January to block the company's proposed $14 billion acquisition of another company in the industry, Juniper Networks (JNPR). Juniper Networks shares were up 8% early Monday. The settlement "paves the way to close HPE's acquisition of Juniper Networks," HPE CEO Antonio Neri said in a statement Saturday. Juniper has a "strong position" in the artificial intelligence space, Bank of America's Wamsi Mohan wrote in a note to clients Monday. With the acquisition of Juniper, HPE is "positioned to offer an end-to-end networking and AI infrastructure stack that can better compete in AI-enabled datacenter and cloud-edge environment," boosting the company's earnings over the long term. Stocks moved higher at the market open Monday to start a holiday-shortened week, set to notch fresh records amid rising hopes for US trade deals ahead of the July 9 deadline. The Dow Jones Industrial Average (^DJI) rose roughly 0.5%. The S&P 500 (^GSPC) moved up about 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) jumped about 0.4%. Oracle stock soared more than 7% and was set to start the trading session at a new intraday high after the software giant disclosed in a filing to the Securities and Exchange Commission that it had signed new cloud services agreements. 'Oracle is off to a strong start in FY26," CEO Safra Catz will tell other Oracle colleagues later today, according to the filing. "Our MultiCloud database revenue continues to grow at over 100%, and we signed multiple large cloud services agreements including one that is expected to contribute more than $30 billion in annual revenue starting in FY28." In its fiscal year 2025, which ended May 31, Oracle's revenue was $57.4 billion. The company partnered with OpenAI ( and SoftBank (SFTBY) to launch the highly publicized $500 billion Stargate project, building AI data centers earlier this year, but the project has stalled. Solar stocks fluctuated in premarket trading Monday after it emerged that the Senate's draft version of the tax and spending bill, which slashes wind and solar tax credits, also now contains a tax on wind and solar projects completed after 2027 that use components from China. The tax on renewable projects came as a surprise to the industry, which largely relies on China to source components from batteries to solar panels. A statement from the American Clean Power Association said the effect would be to "strand hundreds of billions of dollars in current investments." The latest provision comes after solar stocks were hit two weeks ago when lawmakers moved to phase out tax breaks for the industry sooner than expected. Shares of NextEra Energy (NEE) dropped 4% while Enphase Energy (ENPH) stock fell 2.6%. The Invesco Solar ETF (TAN) declined 1.5%. However, there were some bright spots for certain renewable stocks. US-based First Solar (FSLR) rose 7%, while GE Vernova (GEV), which offers wind technologies, added 1.1%. And Sunrun (RUN) gained 7% while SolarEdge Technologies (SEDG) advanced 0.5% due to a short-term extension of residential solar tax credits. Read more here. Several altcoins are faltering this year as bitcoin's share of the crypto market has climbed to 64%, the highest level since January 2021. Bloomberg reports: Read more here. INmune Bio stock (INMB) tanked 60% in premarket trading on Monday after the company said its experimental drug, XPro, failed to improve cognitive functions in patients with early stages of Alzheimer's in a mid-stage study. The drug is designed to target and inhibit inflammatory signals associated with a type of protein called tumor necrosis factor without suppressing the immune system, Reuters reported. Read more here. Disney stock (DIS) rose about 2% in premarket trading Monday after Jefferies analyst James Heaney upgraded the stock. Heaney sees Disney's cruise business, content slate, and parks business fueling a rally in shares over the summer. Yahoo Finance's Brian Sozzi writes: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Earnings: No notable earnings releases. Economic data: MNI Chicago PMI (June); Dallas Fed manufacturing activity Here are some of the biggest stories you may have missed over the weekend and early this morning: Warring GOP puts Trump tax bill to marathon Senate vote today Canada scraps digital services tax that Trump slammed Disney's stock has bagged a Jeffries upgrade — here's why Week ahead: Crucial jobs report looms with stocks at records Trump: TikTok buyer group found, needs China's OK Nvidia insiders cash out $1bn worth of shares Bitcoin soars, altcoins fade in $300 billion crypto shakeout China's economy shows surprising signs of strength Yahoo Finance's Josh Schafer lays out what investors should know about the week ahead: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Hewlett Packard Enterprise Company (HPE) stock rose 6% in premarket trading on Monday following the news that HPE and Juniper Networks have reached an agreement with the US Department of Justice that it will not challenge HPE's acquisition of Juniper. Palantir (PLTR) stock rose 5% before the bell and are trading at an all-time high, up 90% this year. Yahoo Finance Anchor Julie Hyman recently broke down the stock's history on a episode of Market Domination Overtime: Juniper Networks, Inc. (JNPR) stock rose 8% premarket after the DOJ said it would not pursue an investigation into HPE's acquisition of Juniper. As earning season approaches, Goldman Sachs (GS) said on Monday that US profit margins will be tested as investors await to see how President Trump's war has hurt companies. Goldman's David Kostin said Q2 earnings will show the immediate impact of tariffs, which have risen about 10% this year. Most costs will be passed on to consumers, but margins will suffer if firms absorb more than expected. Early results are mixed: General Mills (GIS) stock fell 5% last week due to a weak forecast and tariff warning, while Nike (NKE) rose 15% after announcing it will offset higher duties. Bloomberg News reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
