SpaceX Joins Nasdaq-100 as Tech Weakens on Samsung, Hormuz Risks

On July 7, tech stocks opened lower after Samsung posted a strong earnings beat and raised guidance yet fell more than 7% as lofty expectations triggered profit-taking across memory and chip names. The pullback spilled into U.S. semis including Nvidia and Micron while crude oil firmed near $69 amid fresh missile reports in the Strait of Hormuz. SpaceX simultaneously entered the Nasdaq-100 at the open, triggering ETF buying and ending its quiet period, though its small float and recent 30% drawdown from highs introduced volatility. The move capped a week-long buildup that began with premarket gains and index-inclusion optimism on July 6.