Market Open: Stocks Higher, Dow Tops 53K; LVMH Gets Taylor-Travis Lift • 7/6/26

Summary

CNBC's market open update shows a mixed session with the Dow briefly topping 53,000 before pulling back, while the S&P 500 and Nasdaq gain. Precious metals extend their rebound, and notable event-driven stories include SpaceX's imminent NASDAQ 100 inclusion forcing billions in fund buying, and LVMH getting a buzz from a celebrity wedding. Former St. Louis Fed President James Waller warns AI productivity gains won't be enough to curb inflation, making a rate hike cycle more likely than cuts.

• Dow touches 53,000 intraday record before fading; S&P 500 and Nasdaq positive
• Gold above $4,200/oz and silver above $63/oz, continuing multi-day gains
• SpaceX to join NASDAQ 100, triggering ~$4.3B of forced index fund buying
• LVMH shares rise on buzz from Taylor Swift-Travis Kelce wedding wearing Dior
• James Waller: AI productivity won't fix inflation, Fed more likely to hike
• Morgan Stanley upgrade lifts Lam Research, Applied Materials, KLA
• EasyJet shares jump on $500M+ buyout by Castle Lake to go private
• Terawulf stock up 80% YTD after pivoting crypto mining to AI data centers