> Craftsman slashed the price of its tools by up to 40%

Tuesday, July 7, 2026

Happy Tuesday. Chip giant Samsung Electronics reported a 19-fold increase in profit, but came up short of analysts' most optimistic outlook. The results sent shares of South Korea's KOSPI index falling, which boiled over into U.S. trading today, sending the Nasdaq and S&P 500 lower in today's trading.

In other news, SpaceX finally joined the Nasdaq-100 after a weeks-long controversy over the index maker's decision to fast-track the unprofitable space and AI firm's addition. It came with an array of analysts outlooks, including from Goldman Sachs.

> Live Blog: Nasdaq, S&P 500 decline after Samsung earnings

Microsoft is laying off thousands of workers, or a little over 2% of its workforce, as part of a year-long restructuring effort. Core to the downsizing is the company's Xbox division, which underwent an expensive and ambitious undertaking in recent years, but is now facing the music amid slowing growth from gaming and entertainment.

Live now on TheStreet: Microsoft cuts thousands as Xbox faces rude awakening 

> Micron gives Wall Street reason to rethink AI winners

> U.S. credit card debt sets troubling record

> Wall Street sends strong 4-word verdict on the stock market

> Bank of America warns America now has 2 economies

> Palantir Was One of My Best Trades. Time to Get Back In?

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