The three major averages finished lower on Monday.

The S&P 500 declined 0.19% to close at 7,443.28, and the Nasdaq Composite dropped 0.05% to settle at 25,508.07. The Dow Jones Industrial Average shed 307.16 points, or 0.59%, to end at 51,839.26.

— Sean Conlon

Intel plans a new round of layoffs as part of a "broader strategy." So far, over 5,000 U.S. employees have been a part of the workforce reduction, mostly across California and Oregon, with additional cuts in Arizona and Texas.

"As part of our broader strategy to become a more focused and efficient company, our data center group is aligning its organization to ensure it has the right roles and skills in place to position the business for long-term success," an Intel spokesperson said. "We are committed to treating all impacted employees with respect and providing resources to support them through this transition."

Intel has said it is working to become a "leaner, faster and more efficient company" as it seeks to improve execution and regain competitiveness in AI and advanced chip manufacturing.

Intel's CEO Lip-Bu Tan who replaced Pat Gelsinger as CEO last year had said in the memo that his first few months at the helm of the company have "not been easy." At the time he had said, "We are implementing a plan to reduce our headcount by approximately 15%, and we plan to end the year with a global workforce of about 75,000 employees as a result of workforce reductions and attrition."

Intel is scheduled to report its Q2 2026 earnings on Thursday, July 23, after the market closes.

— Deena Zaidi

JetBlue Airways has won Spirit Airlines slots at New York's LaGuardia Airport and is looking to move back into the budget carrier's old home, a major reshuffling at the congested airport less than three months after the discounter collapsed in the biggest U.S. airline failure in decades.

The slots at the tightly controlled airport are for 12 round-trip flights and are still subject to final court and regulatory approvals, JetBlue said.

Shares of the airline were last trading marginally higher.

Slots and gates are valuable in congested airports like LaGuardia because tight airspace restrictions and crowded airports in a big city like New York cap airline growth. Spirit's slots became available after the airline went out of business in early May.

Read more here.

— Leslie Josephs and Liz Napolitano

Shares jumped 20% after Archer Aviation said it's preparing to have air taxis certified and flying in time for the 2028 Olympics in Los Angeles. 

The company's CEO, Adam Goldstein, shares the news with CNBC's Phil LeBeau on Monday. 

"It's still an ambitious goal, but we're certainly going to try our hardest to get there," Goldstein said. 

The company also released its series hybrid-electric VTOL platform on Monday with the military technology company Anduril. The platform would "serve both defense and commercial applications," according to the press release.

— Ananya Chetia

Crypto stocks gained in midday trading as the price of bitcoin turned positive and climbed as high as $65,583.65, its highest level in more than a month. Bitcoin-focused Strategy added 5%.

The digital asset financial services firm Galaxy Digital led the group higher, surging 10%, followed by stablecoin issuer Circle, which jumped 9%. Ether-linked stocks were the other top gainers, with Bitmine and Sharplink advancing 6% and 8%, respectively. Ether was up 2% to $1,897.09.

— Tanaya Macheel

Check out the companies making the biggest moves in midday trading:

• Advanced Micro Devices, Microsoft — Microsoft said it would offer AMD's Helios-based system on the Azure cloud. Wolfe Research's Chris Caso said Microsoft's decision to return to AMD GPUs "attests to Helios' competitiveness." The development comes ahead of AMD's Advancing AI day later this week. AMD shares are trading nearly 4% higher, while Microsoft was up less than 1%.
• Iren — The data center operator's stock jumped more than 17% after it raised its year-end AI Cloud annualized run-rate revenue target to more than $4 billion from $3.7 billion, following the receipt of $2.8 billion in new multiyear contracts. The company said about 85% of year-end AI cloud annualized run-rate revenue is under contract.
• Imax, AMC Entertainment, Cinemark — Movie theater stocks were trading higher Monday on the back of a strong opening weekend for "The Odyssey" and upbeat second-quarter results from AMC. The Christopher Nolan film rang up $264.1 million in worldwide ticket sales. The movie was the first-ever shot entirely in Imax's 70mm, driving moviegoers to see it on Imax screens. Imax said the film tallied $52 million in sales at the global box office for its screens over the weekend. Separately, AMC said U.S. movie attendance is up 12%, while international has grown 18%. By midday, Imax shares were trading off their highs, up almost 1%, while AMC gained 20% and Cinemark added 4%.

Read the full list here.

— Christina Cheddar Berk and Davis Giangiulio

European stocks closed broadly lower on Monday as investor sentiment on the continent remained subdued.

The pan-European Stoxx 600 index closed 0.3% lower, with regional bourses and sectors painting a mixed picture. 

London's FTSE 100 shed 0.7%, while France's CAC 40 traded flat and Germany's DAX edged 0.1% higher. 

Travel and leisure stocks led declines, falling 0.9%, while regional oil and gas stocks outperformed the wider index, adding 1%.

— Joseph Wilkins

Goldman Sachs' institutional clients have been remarkably consistent in their optimism toward gold, with roughly three-quarters of respondents who expressed a directional view in the bank's monthly survey taking a bullish stance on the precious metal -- a view that also proved to be their most accurate market call.

Looking back at 10 years of survey data through June 2026, Goldman found that, excluding neutral and no-conviction responses, 75.5% of investors with a view on gold were bullish, the highest bullish share among the major asset classes tracked.

Those views also proved the most prescient, correctly predicting the metal's month-ahead direction nearly 69% of the time, well above the hit rates for credit, foreign exchange, equities, commodities and rates.

The analysis is based on Goldman's Marquee QuickPoll, which has surveyed an average of 600 to 900 participants each month over the past decade, primarily institutional clients with a small number of Goldman employees.

— Yun Li

About half of Americans believe it isn't appropriate for the U.S. government to take ownership in U.S.-based companies, CNBC's new All-America Economic Survey found.

The finding comes as the Trump administration has negotiated 30 deals worth nearly $27 billion in total, according to the Council on Foreign Relations, a nonpartisan think tank. More may be coming. The administration has held talks with influential artificial intelligence start-up OpenAI about a potential government stake when it goes public, CNBC has reported.

The All-America poll results show only 19% of voters say it is appropriate for the federal government to own a portion of U.S.-based companies, while 49% say it isn't. Almost a third of voters, or 32%, were undecided, however, suggesting there is room for persuasion as the administration moves ahead with its plans. Read more.

— Matt Peterson

Harley-Davidson is a buying opportunity on growing demand for its motorbikes, according to Loop Capital.

Analyst Brandon Rollé upgraded the stock to buy from hold, with a $32.00 price target reflecting 20% upside from Friday's close. The stock is already up 33% this year. It was last up around 3% in morning trading Monday.

"Dealer feedback on inventory management, new product launches, P&A upside and Flex Financing was overwhelmingly positive, influencing our favorable view on the stock," Rollé wrote on Monday.

— Sarah Min

Houthi militants in Yemen on Monday declared a maritime embargo against Saudi Arabia effective immediately, threatening to exacerbate the oil supply disruption triggered by Iran's attacks on tankers in the Strait of Hormuz.

The Houthis have repeatedly threatened to close the Bab el-Mandeb Strait during the U.S.-Iran war. The strait is a chokepoint for commercial ship traffic that connects the Red Sea to the Gulf of Aden and global markets.

The militants, in a statement carried by state news, accused the Saudis of laying an "aggressive siege" against them. Tensions escalated last week after they claimed that Riyadh had bombed Sanaa International Airport. Read more.

— Spencer Kimball

The three major averages rose on Monday morning.

The S&P 500 gained 0.5% just after 9:30 a.m. ET, while the Nasdaq Composite jumped 0.8%. The Dow Jones Industrial Average climbed 134 points, or 0.3%.

— Sean Conlon

Microsoft announced Monday it will deploy AMD Helios racks in its Azure data centers, joining other early customers Meta, OpenAI and Oracle.

Helios is AMD's first rack-scale system for AI and its most competitive move against Nvidia yet. It will ship later this year.

— Katie Tarasov

Christopher Nolan's "The Odyssey" raked in $264.1 million in global box office sales, topping the pace of the filmmaker's blockbuster "Oppenheimer."

The hype around the movie being filmed entirely in the Imax 70 mm format, pushed many moviegoers to see the film at Imax screens. The demand was so strong, many theaters added screenings in the middle of the night, and sold those out.

The result was Imax seeing its highest global weekend ticket sales ever. The company said it tallied $52 million at the box office, or 20% of the film's global debut.

Shares were up more than 4% in premarket trading on the strong results.

— Christina Cheddar Berk

Goldman Sachs upgrades to buy shares from retailer Urban Outfitters with a 12-month price target of $93, implying upside of more than 27% from last week's close.

"Following several years of weak comp and profitability trends, the UO brand inflected positively in FY26 and is now showing signs of profit improvement," the analysts wrote. 

The analysts cited markdown recapture and sales leverage to drive the stronger performance. They expect the retail brand will reach its successful historical levels by fiscal year 2027. 

The retail company also owns Anthropologie, and investors noted there is risk buying shares from Urban Outfitters because of Anthropologie's inconsistent sales year-to-date.

Still, Goldman Sachs is hopeful Anthropologie is "stabilizing, particularly among younger consumers where purchase intent has improved meaningfully." It acknowledged competition from other retail brands is a risk and could hurt Anthropologie's performance. 

— Ananya Chetia

Bernstein raised its price target on Robinhood to $160 from $130, saying investors are overlooking a broader shift that could transform the trading platform beyond stocks and crypto.

"It would be natural to expect a small market reversal as World Cup ends, however, the market may be missing a generational platform shift in trading markets," analyst Gautam Chhugani wrote in his note.

Over the next two years, Chhugani expects broker/dealers (HOOD), national exchanges (ICE, CME), prediction platforms (Kalshi/Polymarket) and crypto native platforms (Hyperliquid/Binance/Coinbase) to compete for more than $70 billion in fees across fast-growing markets such as prediction markets, tokenized stocks and perpetual futures.

Robinhood's prediction markets revenue business is expected to grow rapidly, reaching $1.7 billion in revenue by 2028, driven by its Rothera exchange, according to the note.

While Robinhood continues to offer Kalshi's event contracts to customers, it is increasingly steering users toward its own platform. HOOD still distributes Kalshi's contracts to its customers, while in parallel offers event contracts from its own Rothera exchange. Meanwhile, Kalshi is pushing into new financial markets beyond predictions, according to the note.

"HOOD and Kalshi are evolving into a 'frenemy' relationship," says Chuggani.

— Deena Zaidi

Domino's Pizza shares were up more than 6% after the pizza chain reported a surprise increase in U.S. sales. Comparable store sales in the U.S. increased by 0.1% in Q2. Analysts polled by FactSet expected a decline of 0.3%.

CEO Russell Weiner also highlighted strong order count growth for the company. "Domino's generated order count growth across both our delivery and carryout businesses, bringing millions of new customers to our brand. These new customers strengthen our long-term growth flywheel by engaging with our loyalty program, while their orders power our supply chain business, fuel store growth, and drive market share," he said in a statement.

— Fred Imbert

Andy Burnham is set to become the U.K.'s seventh prime minister in a decade on Monday, with investors and market watchers already questioning his policy agenda. 

King Charles will formally ask Burnham to form a government at Buckingham Palace this morning ahead of his official appointment as prime minister.

After that, he is expected to make his first speech as premier and set out his vision for the country.

U.S. President Donald Trump has welcomed Burnham's plan to fast-track oil and gas exploration in already-licensed fields in the North Sea.

— Mike Sheen

• U.S. stock futures rose in choppy premarket trading as Wall Street comes off a losing week.
• Gasoline prices in the U.S. climbed back above $4 a gallon on Monday as renewed hostilities in the Middle East once again weighed on oil prices.
• Andy Burnham is set to become Britain's seventh prime minister in just over a decade when he is sworn in on Monday.
• South Korea's Kospi fell 4.5% on Monday as heavyweights Samsung and SK Hynix tumbled.

— Joseph Wilkins

U.S. Treasury yields edged higher on Monday as Wall Street monitors the latest developments amid escalating tensions in the Middle East. 

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose over 1 basis point to 4.558%.

The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was broadly flat at 4.181%. The longer-dated 30-year Treasury bond yield rose over 1 basis point to 5.078%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

— Joseph Wilkins

Mainland China's CSI 300 closed 1.5% higher at 4,598.32. Zhongji Innolight surged as much as 8%, before ending the day 2.5% higher, after receiving approval for a major Hong Kong listing in what is likely to be one of the city's biggest in years.

Hong Kong's Hang Seng index was up 2.1% in the last hour of trade on Monday. Alibaba shares rose 3.7% Monday following the preview launch of its flagship Qwen 3.8 Max model on Sunday. 

— Justina Lee

Ryanair warned on Monday that struggling European airlines are facing a "difficult winter" ahead, as the budget carrier reported first-quarter profit that took a 34% hit due to consumers delaying bookings amid the Middle East crisis

The airline saw its profit after tax in the April to June quarter fall to 538 million euros ($615.3 million), down from 820 million euros the previous year.

Ryanair said 20% of its unhedged fuel was exposed to price spikes, while ticket fares declined 6%. Operating costs also rose 11% to 3.81 billion euros as the price of its 20% unhedged fuel more than doubled in the quarter.

Shares fell 5.6% shortly after the market open.

— Sawdah Bhaimiya

Andy Burnham takes over from Keir Starmer as U.K. prime minister on Monday, becoming the country's fifth leader in just four years. Attention now turns to his cabinet appointments, including the all-important choice for finance minister.

The pan-European Stoxx 600 started Monday's session down 0.22%, with most regional sectors and major bourses in negative territory shortly after the opening bell.

Oil and gas stocks led the way, rising 1.48%, with technology up 0.52% in early dealmaking. Media names added 0.15%, as all other sectors hit reverse.

France's CAC 40 fell 0.11%, Germany's DAX slipped 0.16%, and the U.K.'s FTSE 100 lost 0.3%. Italy's FTSE MIB was hovering just below the flatline.

— Hugh Leask

South Korea's Kospi ended Monday's session 4.5% lower at 6,516.27, while the small Kosdaq index declined 5.3% to 749.64.

Earlier in the day, the sharp decline in the Kospi prompted the Korea Exchange to activate a sell-side sidecar on the index, temporarily halting program trading.

Index heavyweights Samsung and SK Hynix dropped 4.3% and 4.2%, respectively on an extended chip out.

Hyundai Motor fell 6.1%, following local reports last week that the automakers union was extending a partial strike starting.

Australia's benchmark S&P/ASX 200 ended flat at 8,791.30.

Japanese markets were closed for a holiday.

— Justina Lee

European stocks are expected to begin the new trading week in mixed territory, as investors monitor the latest tensions in the Middle East.

Futures tied to the Stoxx 50 were set to open Monday's session just above the flatline.

France's CAC 40 was flat prior to the market open, German DAX futures were down 0.12%, and Italy's FTSE MIB was down 0.08%. 

The U.K. is also in focus, with Andy Burnham set to become the country's new prime minister later Monday. The U.K.'s FTSE 100 was seen opening 0.15% lower.

— Hugh Leask

Alibaba shares rose 5.15% Monday following the preview launch of its flagship Qwen 3.8 Max model on Sunday. 

The Chinese tech giant described the new model, which features 2.4 trillion parameters, as matching top-tier frontier AI systems and ranking second only to Anthropic's Claude Fable 5, adding that a preview is now available through its Token Plan, Qoder, and QoderWork platforms.

Alibaba's announcement follows the launch of Moonshot AI's Kimi K3 just days earlier, with the Chinese startup claiming its new 2.8-trillion-parameter system beats U.S. models such as Claude 4.8 Opus and GPT-5.5.

— Jenny Lee

Treasury yields were higher Monday, as renewed hostilities between the U.S. and Iran over the weekend raised geopolitical concerns, while investors continued to digest recent data releases.

The 10-year U.S. Treasury yield rose 1 basis point to 4.585%. The yield on the 2-year Treasury note, which impacted by expectations of near-term Fed interest rate, was also up 1 basis point at 4.183%.

— Justina Lee

Shares of China's Zhongji Innolight surged as much as 8% Monday before paring some gains, after the company received approval for a major Hong Kong listing worth up to $8 billion on Friday, in what is likely to be one of the city's biggest in years.

The Chinese optical transceivers firm has started to gauge interest from investors, and details such as size and timing may change while deliberations are ongoing, Bloomberg reported, citing people familiar with the matter.

Zhongji Innolight shares were last trading 3.7% higher.

— Justina Lee

Oil prices rose Monday as continued conflict between the United States and Iran has heightened concerns over disruptions to energy shipments through the Strait of Hormuz, following another round of U.S. strikes and American military casualties.

International benchmark Brent crude for September delivery rose about 2.77% to top $90 per barrel, while U.S. West Texas Intermediate crude for August delivery climbed roughly 2.4% to $84.49.

The latest escalation comes after the U.S. military confirmed a third American service member had been killed in recent operations, while investigators recovered unidentified remains near the site of an Iranian attack in Jordan that had previously left two U.S. personnel dead and another missing.

— Lee Ying Shan

Shares of Hyundai Motor fell 6.6%, following local reports last week that the automakers union was extending a partial strike starting Monday.

The union spokesperson said Thursday that from July 20 to 22, members will stage four-hour strikes during their respective shifts, Yonhap reported. This is the union's second round of walkouts this year.

The union reportedly said that workers will hold partial strikes as part of efforts to secure higher wages, raising concerns over production disruptions at the company.

The workers had staged a similar strike last week.

— Justina Lee

The Korea Exchange activated a sell-side sidecar on the Kospi, temporarily halting program trading, has South Korean stocks plunged. 

A sell-side sidecar is triggered when the Kospi 200 futures index falls 5% or more for at least one minute, stopping trading for 5 minutes.

— Justina Lee

Mainland China's CSI 300 opened flat, as the government kept benchmark lending rates unchanged for a 14th consecutive month in July.

Hong Kong's Hang Seng gained 1.52% at open, supported by advances in healthcare and energy stocks.

— Justina Lee

Asia-Pacific markets traded mixed early Monday, amid concerns over escalating tensions in the Middle East.

The Kospi dropped 0.74% at open, while the small-cap Kosdaq declined 1.66%.

Australia's benchmark S&P/ASX 200 was 0.34% higher.

Japanese markets are closed for a holiday.

— Justina Lee

Asia-Pacific markets were set to open subdued on Monday, as the U.S. continued to strike Iran for a ninth consecutive day.

Hong Kong Hang Seng index futures were last at 24,602, compared with the index's Friday close of 24,562.24. In Australia, futures last traded at 8,814, while the S&P/ASX 200′s closed at 8,796.70.

Japanese markets are closed for a holiday.

Tensions in the Middle East stay high, after the U.S. military reported that during a recent fighting with Iran, a third American service member was killed in action. That brings the U.S. death toll to 17 since the conflict began in February.

— Justina Lee

Oil prices moved higher on Sunday evening as the conflict in the Middle East intensified over the weekend, with the U.S. saying a third American service member had been killed in action.

As of 6:19 p.m. ET, U.S. West Texas Intermediate futures advanced 2.93% to $84.91 per barrel, while international benchmark Brent crude futures gained 3.13% to $90.86.

— Sean Conlon

U.S. equity futures traded around the flatline on Sunday evening.

S&P 500 futures fell 0.1% just after 6 p.m. ET, while Nasdaq-100 futures climbed 0.1%. Dow Jones Industrial Average futures shed 63 points, or 0.1%.

— Sean Conlon