SEATTLE, WA – JULY 6, 2026: United States forward Folarin Balogun (20), center, warms up before the first round World Cup finals game between the United States and Belgium at Lumen Field on Monday, July 6, 2026 in Seattle, Washington. (Robert Gauthier/Los Angeles Times via Getty Images)
Robert Gauthier | Los Angeles Times | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
U.S. markets got off to a strong start this week, with the Dow rising above 53,000 for the first time and the Nasdaq rising as semiconductor stocks rebounded.
Meanwhile, politics appears to be taking center stage at this World Cup, as FIFA rejects Belgium’s challenge to US striker Folarin Balogun’s eligibility and US President Donald Trump defends his intervention to reverse Balogun’s suspension.
Now that both teams are on the pitch, it is hoped that the score will be decided there.
What you need to know today
After the Fourth of July fireworks, U.S. investors returned to the market in a celebratory mood, with the Dow Jones Industrial Average rising above 53,000 for the first time.
Other major indexes also rose, with the Nasdaq rising 1.12% on a rebound in semiconductor stocks, and the S&P 500 rising 0.72%.
As the risk-on mood took hold, U.S. Treasury yields stabilized, but gold prices declined.
The upbeat mood among stock investors was in contrast to Belgium, where FIFA rejected a challenge to U.S. striker Folarin Balogun’s eligibility to play against Belgium.
Balogun was initially suspended after receiving a red card in the United States’ game against Bosnia and Herzegovina, but the decision was reversed last week after President Trump called FIFA President Gianni Infantino.
President Trump thanked FIFA for “doing the right thing and reversing a great injustice” on Truth Social Sunday.
The match is currently in progress between both teams.
Beyond soccer, the US continues to increase pressure on NATO to increase defense spending, with US Ambassador to NATO Matthew Whittaker saying tensions with partners reflect “growing pains” rather than a crisis. “The goal is for Europe to take over the traditional defense of the continent.”
“We’re not going to withdraw, we’re just going to reduce our activities,” Whitaker said ahead of this week’s North Atlantic Treaty Organization (NATO) summit in Ankara, Turkey, regarding U.S. involvement in European defense and security.
In Asia, China’s Alibaba will ban its employees from using Anthropic’s artificial intelligence tools for work purposes starting July 10, citing concerns that the U.S. company poses backdoor security risks.
CNBC has confirmed that the Chinese e-commerce giant has added Anthropic’s Claude Code to its list of high-risk software, according to people familiar with the matter.
The move comes after Anthropic sent a letter to the U.S. Senate Banking, Housing and Urban Affairs Committee accusing the Chinese tech giant of “brazenly” and “illegally” trying to extract AI capabilities.
— Lim Huijie
And finally…
Microsoft cuts 4,800 jobs as Xbox division downsizes and plans to spin off four game studios
Microsoft on Monday announced it would immediately cut 4,800 jobs, or 2.1% of its workforce, in the software giant’s latest efforts to cut costs in the age of artificial intelligence.
The company’s Xbox division will lose about a fifth of its workforce, with 1,600 jobs cut Monday and additional layoffs to come in the coming months.
Xbox plans to cut a total of 3,200 jobs, Xbox CEO Asha Sharma said in an email to department employees.
Half of those roles are part of the 4,800 jobs being cut on Monday, with the remaining 1,600 set to retire during the 2027 fiscal year.
— Jordan Novett
