US stocks at the open: Dow Jones Industrial Average +0.09%, S&P 500 -0.22%, Nasdaq Composite -0.60%. Semiconductor names extended declines: SanDisk (SNDK.O) -6.5%, Western Digital (WDC.O) -6.7%, Micron Technology (MU.O) -6.07%. SpaceX (SPCX.O) fell 1.7%; it was officially added to the Nasdaq-100 today.

China's National Development and Reform Commission (NDRC) outlined five priority workstreams for the AI industry under the 15th Five-Year Plan, emphasizing intensified R&D on core technologies—models, computing power and data—expanded basic research and the production of more original innovations to contribute Chinese expertise to global AI development.

Capital Economics analyst Ariana Curtis said Canada's goods trade surplus widened to a four-year high in May, but the increase was entirely price-driven as export volumes were essentially unchanged. She said the only positive was a rise in May import volumes, signalling gradual improvement in domestic demand. Curtis added the trade data is consistent with the preliminary 0.1% MoM GDP estimate for May.