Wall Street opened mixed as the S&P 500 approaches record highs following last week’s 3.5% surge, with investors awaiting July inflation data and monitoring Iran deal developments. Apple was downgraded at Jefferies due to supply chain concerns suggesting a cancelled all-glass iPhone model planned for 2027. Intel dropped over 3% after announcing a $15 billion stock sale plan, while TSMC’s July sales jumped 45% year over year reflecting strong AI chip demand. Analysts raised price targets for Uber and DuPont, upgraded Hewlett Packard Enterprise and Dick’s Sporting Goods to buy, and Boeing sold three autonomous flight subsidiaries to Archer Aviation as part of CEO Kelly Ortberg’s strategy to fix the core plane and defense businesses.
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