Welcome to Markets Desk, your midday read on what's moving and why.
Chip stocks are leading the tape higher this session, with the Nasdaq one hundred up roughly half a percent while the broader S and P adds modest gains. AMD is climbing after securing a new Microsoft deal, and investors are also positioning ahead of a major product event later this week. Micron is rebounding as well, with Morgan Stanley telling clients that memory chips remain a genuine bottleneck to AI development and that demand looks durable despite the stock's volatile history.
Shifting to commodities, coffee prices are pushing higher after data from Safras and Mercado showed Brazil's two thousand twenty six to twenty seven harvest is only sixty four percent complete, running behind pace. Both arabica and robusta futures are up on the session, with arabica leading the move, as traders price in tighter near-term supply from the world's largest producer.
And in media, a California judge has issued a temporary restraining order halting the Paramount Skydance acquisition of Warner Bros Discovery. Twelve state attorneys general filed suit on antitrust grounds, and the deal is now on pause pending a fuller hearing. It is a significant roadblock for David Ellison, who had appeared to be in the final stretch of closing one of the biggest media combinations in years.
That's the tape. Markets Desk, signing off the floor.
