CNBC Daily Open: Chips are down The Dow Jones Industrial Average reached an all-time high driven by optimism surrounding the nearing end of the Iran war, while oil prices declined. However, the tech sector, particularly chip stocks, experienced a downturn, with Broadcom’s significant drop impacting the Nasdaq. Private credit funds faced increased redemption requests, leading to withdrawal caps, and Bitcoin saw its value diminish significantly.

• Dow Jones hit an all-time high, and oil prices cooled due to optimism about the end of the Iran war.
• Chip stocks stumbled, with Broadcom’s revenue miss dragging down the Nasdaq.
• Bitcoin continued its slide, erasing gains since the war began.
• Blackstone capped withdrawals from its private credit fund amid rising investor redemption requests.
• SpaceX is planning a record-breaking IPO, with major banks hosting client events.
• A flesh-eating parasite, the New World screwworm, was detected in Texas for the first time in decades.
• The 2026 FIFA World Cup is expected to boost hospitality, leisure, and retail stocks, according to Deutsche Bank and Goldman Sachs analysts.