Market update for Monday July 6, 2026 Interview with Bloomberg’s Mark Gurman about Apple: (Spotify) Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: Microsoft cutting thousands of jobs and hitting reset on Xbox after years of gaming acquisitions Apple extending its Broadcom chip partnership through 2031 as it builds out AI infrastructure TeraWulf surging after landing a 20-year Anthropic data center deal Strategy falling after selling Bitcoin to fund dividend payments Buc-ee’s turning clean bathrooms, brisket, and Beaver Nuggets into a roadside retail empire

Microsoft Cuts 20% of Xbox Staff, Apple Locks In Broadcom for AI Chips

The Rundown

[SPEAKER_A] public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani, and today is Monday, July 6th. In today's episode, we'll tell you why Microsoft is cutting thousands of jobs and resetting their Xbox strategy. We'll also tell you about a brand new chip deal between Broadcom and Apple. Then stick around to the end of the show to find out why a giant gas station is attracting World Cup tourists. We got a great show for you today. Let's go. Markets are coming off a pretty weird but winning holiday-shortened week. Last week, the S&P 500 gained 1.8%, while the Nasdaq added 2.1%. And I guess I have to mention the Dow here. It was up 2% and finished last week at record highs. Still don't care about the Dow, though. You know, there seems to be a lot of volatility right now in the market, especially with chip stocks. It feels like the stock semiconductor indexes going up or down like 4 to 5% on a daily basis, which could be a sign that the market can't make up its mind on what to do with the AI trade right now. One day there seems to be a ton of optimism, the next day there's doom and gloom. So the market is bouncing headline to headline when it comes to AI. But what is clear though is that the money is rotating into other corners of the market. And the best example of that is small caps. The Russell 2000 Index, which tracks smaller companies, climbed about 22% in the first 6 months of the year. That's the best first half performance performance by the Russell since 1991.

Microsoft Cuts 20% of Xbox Staff, Apple Locks In Broadcom for AI Chips

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Microsoft Cuts 20% of Xbox Staff, Apple Locks In Broadcom for AI Chips

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.