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<body><p>STORY: Wall Street's main indexes closed mostly lower on Monday, with the exception of the Dow, which gained just under a third of a percent. The S&P 500 shed more than a third of a percent, while the Nasdaq dropped over 1.3%.</p><p>Shares of Elon Musk's SpaceX weighed heavily on the Nasdaq, plummeting more than 16% for their biggest single-day decline. The rocket and AI company launched its first-ever debt offering on Monday and said it had roughly $100 billion in cash and cash equivalents as of last Friday. SpaceX's stock is still trading above its IPO price of $135.</p><p>Optimism over AI has supported Wall Street's recent rally, but Melissa Brown, managing director of investment decision research at SimCorp, said the rally could be nearing its peak.</p><p>"Momentum tends to beget more momentum. So stocks do well, they continue to do well until something happens and they stop doing well. And then typically the market peaks at that point... I do think, though, that this kind of blowout, this huge surge of trading volume does suggest that the peak is closer than farther away."</p><p>Among other tech names, shares of Alphabet fell 5% following news that Google DeepMind's senior research scientist and Nobel laureate John Jumper said he was leaving for AI startup Anthropic, the lab's latest high-profile exit.</p><p>Shares of Meta, Amazon and Microsoft also closed lower Monday.</p><p>The next test for the tech rally will be Micron Technology's quarterly results on Wednesday. Shares of the memory chipmaker are up nearly 300% this year.</p><p>Among other movers, shares of Apogee Therapeutics soared nearly 47% after AbbVie said it would acquire the biotech company for $10.9 billion in cash. Shares of AbbVie rose more than 6%.</p><p>Meanwhile, oil prices fell as peace talks between Washington and Tehran continued in Switzerland - though tensions persisted over Lebanon and the Strait of Hormuz.</p></body>
In the closing of the recent trading day, BigBear.ai Holdings, Inc. (BBAI) stood at $3.83, denoting a -2.3% move from the preceding trading day.
HCI Group (HCI) reached $167.42 at the closing of the latest trading day, reflecting a +2.32% change compared to its last close.
In the closing of the recent trading day, Cleveland-Cliffs (CLF) stood at $11.89, denoting a -3.18% move from the preceding trading day.
The latest trading day saw Wingstop (WING) settling at $156.74, representing a -3.12% change from its previous close.
In the closing of the recent trading day, Consolidated Water (CWCO) stood at $29.02, denoting a -2.91% move from the preceding trading day.
The latest trading day saw United Parcel Service (UPS) settling at $107.24, representing a +2.27% change from its previous close.
Symbotic Inc. (SYM) concluded the recent trading session at $40.2, signifying a -3.55% move from its prior day's close.
On June 22, 2026, Apogee Therapeutics shares surged as investors reacted to AbbVie's proposed acquisition terms.
SharkNinja, Inc. (SN) closed at $138.56 in the latest trading session, marking a -1.62% move from the prior day.
In the most recent trading session, Sony (SONY) closed at $19.51, indicating a -4.03% shift from the previous trading day.
In the latest trading session, Axon Enterprise (AXON) closed at $410.03, marking a -3.16% move from the previous day.
Cloudflare (NET) concluded the recent trading session at $218.38, signifying a -2.54% move from its prior day's close.
Owens Corning (OC) reached $124.62 at the closing of the latest trading day, reflecting a -2.75% change compared to its last close.
Monday.com (MNDY) closed at $70.36 in the latest trading session, marking a -1.64% move from the prior day.
UiPath is giving enterprises more ways to coordinate AI agents, robots, and people, with the next readout focused on whether agentic automation demand can lift recurring revenue and customer expansion.
Alphabet has the scale to fund AI, with investors looking for Gemini, Google Cloud, and Search to turn that spending into measurable growth as talent concerns intensify.
The Russell 2000 hit a fresh record and closed above 3000 for the first time. It’s risen 21% this year and is up 41% in the past 12 months, according to Dow Jones Market Data. The Russell outperformed the Nasdaq by 2.15 percentage points, which is its largest one-day outperformance since Nov. 6, 2024.
Crude prices fell Monday after the US said it is temporarily lifting sanctions on Iran to allow it to export oil, while the Nasdaq retreated on concerns after AI investments by SpaceX and other tech giants.The US Treasury said later Monday it was temporarily lifting sanctions on Iran to allow the Islamic Republic to produce, sell and deliver crude oil and related products through August 21.
