Major U.S. stock indices declined Monday as investors awaited the Federal Reserve's upcoming rate decision. The "Magnificent Seven" tech stocks showed mixed performance, while semiconductor shares advanced. Despite widespread expectations of a 25-basis-point rate cut, comments from Kevin Hassett—considered a potential successor to Fed Chair Jerome Powell—dampened hopes for aggressive easing in 2026, pushing Treasury yields lower.

**Market Performance** The Dow Jones fell 215.67 points (0.45%) to 47,739.32, the Nasdaq dropped 32.23 points (0.14%) to 23,545.90, and the S&P 500 lost 23.89 points (0.35%) to 6,846.51. Semiconductor stocks rallied, with Micron Technology (MU.US) up over 4%, Broadcom (AVGO.US) gaining nearly 3%, Nvidia (NVDA.US) rising close to 2%, and AMD (AMD.US) climbing more than 1%. Paramount Skydance Corp (PSKY.US) announced a $108.4 billion all-cash bid for Warner Bros. Discovery (WBD.US), sending both stocks higher. Confluent (CFLT.US) surged 29% after IBM (IBM.US) agreed to acquire it for $11 billion. Oil prices fell nearly 2%.

**Global Markets** European indices were mixed: Germany’s DAX edged up 0.07%, while France’s CAC 40 dipped 0.08%. In Asia, Japan’s Nikkei 225 rose 0.18%, and South Korea’s KOSPI jumped 1.34%. The U.S. dollar index (DXY) gained 0.11% to 99.10.

**Commodities & Crypto** Bitcoin rose 0.69% to $91,019, and Ethereum advanced 2.36% to $3,133.09. Gold futures slipped 0.55% to $4,219.75/oz. WTI crude dropped 2% to $58.88/barrel.

**Key Developments** - Former U.S. President Trump announced plans for a federal AI regulation framework to replace state-level rules. - Oppenheimer projected the S&P 500 could reach 8,100 by 2026, citing resilient corporate earnings. - New York Fed data showed stable inflation expectations but worsening household financial conditions. - The Supreme Court signaled potential support for presidential authority over independent agencies, raising concerns about Fed independence.

**Notable Stocks** - Paramount’s unsolicited bid for Warner Bros. Discovery overshadowed Netflix’s (NFLX.US) prior $82.7 billion offer, sending NFLX shares down 3.44%. - Apple (AAPL.US) chip chief Johny Srouji quelled rumors of his departure. - IBM’s acquisition of Confluent marks its push into AI-driven data streaming.