US equities on Wednesday, July 1: Dow Jones Industrial Average closed down 12.98 points, or 0.02%, at 52,306.22; S&P 500 closed down 15.97 points, or 0.21%, at 7,483.39; Nasdaq Composite closed down 173.69 points, or 0.66%, at 26,040.03.

People familiar with the matter said Xinlian Integration notified customers it will raise product prices by 15-25% in Q3 2026. The company cited year-to-date structural cost increases across the global semiconductor supply chain and sustained capacity tightness driven by surging AI and new-energy demand. Xinlian said the move is not a unilateral cost pass-through but a response to rigid upstream cost rises and structural, long-term downstream demand, intended to safeguard product quality and supply. The notice said customers are ordering based on production needs rather than speculative stockpiling and described the mid-to-long-term price framework as stable.

ECB Governing Council member Kasik said the war’s impact on oil prices is likely to be longer-lasting and that another rate hike is a reasonable expectation.