Stocks Slowly Gaining, Shrug Off Tech Weakness

Stocks are slowly gaining to close out the first full week of July. After a flat morning, the Dow Jones Industrial Average (DJI) is up 95 points midday. The S&P 500 Index (SPX) has taken a similar cue, reversing early losses, while the small-cap Russell 2000 (RUT) is once more stalling out below 3,000. The Nasdaq Composite (IXIC) has traded on both sides of the aisle but is now marginally higher, as U.S.-based chip stocks monitor SK Hynix's trading debut. The S&P 500 and Nasdaq are heading for weekly wins, while the blue-chip index and small caps are lower for the week. Elsewhere, the 10-year Treasury yield has perked up, as investors await the next domino in the U.S.-Iran conflict. 

Continue reading for more on today's market, including:

• Cryptocurrency stock soars on major regulation boost.
• Delta earnings are here: what you need to know.
• Plus, WOLF bears circle; Shopify upgraded; and HOOD brushes off bull note. 

Wolfspeed Inc (NYSE:WOLF) is getting blitzed by options bears today. At last look, over 25,000 puts have been traded, volume that's 23 times the average intraday amount. The January 2027 45- and 60-strike calls are the most popular, but the September 25 put is not far behind. Shorter-term, the July 40 put is seeing new positions bought to open. WOLF is down 8.1% to trade at $34.23, the semiconductor supplier now 56% off its May 22 all-time high of $80.82.

Shopify Inc (NASDAQ:SHOP) is up 0.7% to trade at $124.15 today, and earlier traded as high as $130.75, after Stifel upgraded the e-commerce staple to "buy" from "hold." The analyst in coverage also hiked its price target to $150 from $110, calling the company a leader in agentic commerce. SHOP is down 23% in 2026 still, but has added 12% in the last three months.

Robinhood Markets Inc (NASDAQ:HOOD) stock is down 2.9% to trade at $111.74, and earlier fell as low as $108.81. The trading platform is brushing off a price-target hike from BofA Global Research to $132 from $119. Robinhood stock has breached low its year-to-date breakeven level today, but is forming a bullish flag pattern on the charts.