By Jake Novak

Written by Jake Novak

Estimated Reading Time: 2 minutes

STOCKS/ECONOMY

• Stock futures are mixed, with the Dow futures higher and Nasdaq futures lower, after Monday’s 156-point gain for the Dow, larger 0.7 percent advance for the S&P 500, and a 1.1 percent rally for the Nasdaq. The up again, down again trade for the chip sector is down again this morning.
• The yield on the 10-year Treasury bond is up to 4.48 percent.
• Gold is up to the $4,175 per ounce level. Silver is down to the $62 per ounce level. Bitcoin is at the $63,400 level.
• Asian markets closed lower today. The Nikkei sold off by 2.1 percent, the Hang Seng lost 0.5 percent, the Kospi dropped 4.9 percent, and the Shenzhen fell 1.2 percent.

OIL/ENERGY

• U.S. crude prices are up and back to the $69 a barrel level.
• Gasoline prices are holding at $3.79 a gallon, national average.

IRAN WAR

• Iran has once again fired missiles at defenseless commercial ships in the Strait of Hormuz.

CHIPS OY OY

• Samsung reported a huge profit increase, but investors are spooked by how much the company is spending to produce AI chips. Samsung shares are down 7 percent in overseas market trading this morning.
• News about Samsung is sending shares of U.S.-based chipmakers down in the premarket. Micron Technology (MU) shares are down 4 percent, Nvidia (NVDA) shares are down 2 percent, and Qualcomm (QCOM) shares are down 3 percent.

PHARMA

• Vertex Pharmaceuticals (VRTX) is buying Crinetics Pharmaceuticals (CRNX) to acquire Crinetics’ treatments for hormonal diseases. The deal is valued at $10 billion. Crinetics shares are up 99 percent in the premarket, and Vertex shares are slightly lower.

-Jake Novak

Jake Novak is a 30-yr. veteran TV news producer, editorial columnist, & fmr. diplomat with expertise in politics, business news, culture, & media analysis. He is also the author of Jake’s Takes on Substack.

The author’s views are their own and do not constitute financial, investment, or legal advice. Investing involves risk; please consult with a qualified professional before making any financial decisions.

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