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Stock surge, Federal Reserve initiatives, Delta financial results, and additional updates in the Morning Briefing.

July 10, 2026

Morning Update

Happy Friday! This morning, “Squawk on the Street” will feature an interview with FCC Chairman Brendan Kerr at 11 a.m. ET, continuing his investigation into ABC’s “The View.” You can catch it live on CNBC or CNBC+.

Currently, stock futures are showing mixed results. However, both the Nasdaq Composite and the S&P 500 are headed for a positive week overall.

Here are five key points investors should keep in mind as they begin their trading day.

1. Semiconductor Surge

Yesterday, Wall Street finished on a high, with major companies seeing an uplift thanks to semiconductor stocks. Micron led the charge, seeing a 4.5% increase after announcing more investments in its U.S. supply chain.

In other tech news:

Korean chip maker SK Hynix is set to debut on Nasdaq after raising about $26.5 billion in the U.S. This firm provides critical computer memory for tech giants like Apple.
Meta’s new Muse Spark 1.1 launched yesterday, incorporating elements from OpenAI and Google. Meta’s stock rose nearly 5% following this news.
OpenAI’s CEO Sam Altman shared that their latest model is 54% more efficient for coding tasks. The new suite was released on Thursday.
Later, OpenAI’s product chief, Fiji Simo, announced his departure from the company due to health issues.
Despite yesterday’s gains, chip stocks are experiencing a dip before the market opens.

2. Fed’s New Team

Fed Chairman Kevin Warsh introduced a new group of experts at a press conference on Thursday, marking his first since assuming the role on June 17, 2026. Notable members include venture capitalist Marc Andreessen and Walmart CEO Doug McMillon. The task force appears eager about the potential of AI.

In a related note, Anthropic has appointed former Fed Chairman Ben Bernanke to their independent advisory trust, focusing on how AI impacts the economy.

3. Delta’s Performance

This morning, Delta Air Lines and other major U.S. airlines reported strong earnings for the second quarter, reaffirming their financial outlook for the year ahead. CEO Ed Bastian stated that ticket prices and demand remain robust, with the airline passing on increasing fuel costs to consumers.

4. Shipping Update

Oil prices saw a decline yesterday, but the Strait of Hormuz continues to be a critical area of concern. Following recent Iranian attacks on commercial vessels, tanker traffic has notably slowed. Just five commercial ships made the crossing between Wednesday and Thursday, compared to an average of 33 ships per day the previous week.

5. Airport Renaming

In travel news, Palm Beach International Airport is officially being renamed to Donald J. Trump Presidential International Airport. The code will change from PBI to DJT on August 18th, following legislation signed by Florida Governor Ron DeSantis. This renaming is expected to cost around $5.5 million. Eric Trump shared that a private jet from the Trump Organization was the first to land at the airport under its new name.