S&P 500, Nasdaq Composite Rise Slightly as New Record Highs in Sight Ahead of Key Inflation Data This Week

Intel Stock Jumps as CEO to Meet With Trump

26 minutes ago

Shares of Intel (INTC) surged following a report CEO Lip-Bu Tan is set to visit the White House today after President Trump called for his resignation last week.

The stock was up 5% in recent trading, after last week’s plunge threatened to erase its gains for 2025. With Monday’s jump, the stock was back in positive territory for the year.

Tan could use the visit to defend his background and improve relations with the Trump administration, as well as potentially set the groundwork for new deals, The Wall Street Journal reported. Intel and the White House did not immediately respond to requests for comment.  

Tan, who took the helm of Intel in March, said in a letter to employees last week that he has the full support of the company’s board, after Trump called for him to step down.

“The CEO of INTEL is highly CONFLICTED and must resign, immediately,” Trump wrote on his Truth Social network Thursday.

The post came after Sen. Tom Cotton (R-Ark.) wrote a letter to Intel’s board chair asking about Tan’s work history and stakes in companies with reported connections to China’s military. Tan was previously CEO of Cadence Design Systems (CDNS), which said it recently settled legal proceedings related to “operations and business dealings in China.” 

In his letter, Tan said “there has been a lot of misinformation circulating,” and that he looks forward to engaging with the Trump administration to address issues raised.

–Kara Greenberg

Nvidia, AMD to Give US Government Share of China Chip Sales

1 hr 50 min ago

Nvidia (NVDA) and Advanced Micro Devices (AMD) plans to resume sales of key AI chips to China could come with some big strings attached. 

Both companies have agreed to pay 15% of their China chip revenues to the U.S. government in exchange for export licenses, the Financial Times reported yesterday, after the Trump administration tightened restrictions earlier this year citing national security concerns.

The Trump administration and AMD did not immediately respond to a request for comment. 

A spokesperson for Nvidia told Investopedia, “We follow rules the U.S. government sets for our participation in worldwide markets. While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide. America cannot repeat 5G and lose telecommunication leadership. America’s AI tech stack can be the world’s standard if we race.”

Both chipmakers have take a significant hit from the Trump administration’s curbs, with AMD last week reporting an $800 million charge in the second quarter related to restrictions on the sale of its AI chips to China. Nvidia said in May that it expects to report an $8 billion hit from export restrictions when it releases its quarterly results later this month.

Shares of Nvidia wavered between slight gains and losses in early trading, while AMD shares were up nearly 2% recently.

Such a deal would mark an unusual shift in how American companies are expected to engage with the government and respond to trade policy changes. 

Nvidia’s plans to resume sales to China came after a number of high-profile visits to the White House by CEO Jensen Huang, including one last week. President Trump also said last week that Apple (AAPL) and others with pledges to build in the U.S. could be exempt from new semiconductor tariffs, after CEO Tim Cook joined Trump at the White House to announce a $100 billion commitment to U.S. production. 

Separately, Intel (INTC) CEO Lip-Bu Tan is is set to to meet with Trump at the White House today, after the president called for his resignation, The Wall Street Journal reported.

–Kara Greenberg

S&P 500 Coming Off Its Best Week Since June

2 hr 24 min ago

Stocks rebounded last week as investors concerns about tariffs and the economic outlook eased.

The benchmark S&P 500 index and the tech-heavy Nasdaq Composite surged 2.4% and 3.9% last week, their best performance since the week of June 23. The Dow Jones Industrial Average added 1.6% last week, its biggest gain since the week of June 30.

Coming into Monday’s session, the Nasdaq was up about 11% since the start of 2025, while the S&P 500 had gained 8.6% and the Dow had tacked on 3.8%.

Major Index Futures Inch Higher

3 hr 47 min ago

Futures tied to the Dow Jones Industrial Average were up 0.3%.

S&P 500 futures added 0.2%.

Nasdaq 100 futures rose 0.1%.