NEW YORK, July 9, 2026, 05:38 (EDT)
- U.S. cash equities will trade regular hours Thursday. NYSE’s holiday calendar shows it will close for Independence Day on July 3, 2026, not July 9. The main NYSE session runs from 9:30 a.m. to 4:00 p.m. ET.
- A judge signed off on Elon Musk’s SEC deal but said the regulator may not have gone far enough.
- Paramount-Warner, self-driving cars, Nvidia, Apple, and Meta all face new regulatory news heading into the session.
Judge Sparkle Sooknanan signed off on the SEC’s settlement with Elon Musk, clearing the way for the deal over his slow disclosure of buying Twitter shares. But in her order, Sooknanan flagged concerns, saying courts aren’t just “a rubber stamp.” She pointed out the terms: a Musk trust puts up $1.5 million, while the SEC said Musk’s delay let him pocket $150 million. Reuters
This isn’t a lot of money for Musk. But as a market signal, it matters. The case centers on a key stock market rule—big investors who cross an ownership line should notify others fast enough for everyone to trade on equal information.
The rule is part of the SEC’s beneficial-ownership regime. Investors who own more than 5% of a public company’s stock file a Schedule 13D or 13G. The filing shows the market who has taken a sizable position and sometimes signals if the investor is interested in influence or control.
Deal stocks saw more regulatory risk. Paramount told investors the $110 billion Warner Bros. deal won’t close before July 22, after Oregon’s attorney general asked for records and a two-month delay to review the merger. The EU also moved its decision deadline on proposed remedies to July 22.
Antitrust laws can stall or block a merger if regulators see a threat to competition. Oregon AG Dan Rayfield said the state won’t let Paramount “play hide the ball.” Paramount pushed back, saying Oregon is after information that isn’t a valid reason to hold up what it called a “plainly lawful, pro-competitive transaction.” Reuters
It’s a tough market. The Justice Department finished its review in June, saying a merger between Paramount and Warner wouldn’t hurt competition or consumers. The agency said it might actually add more pressure in streaming, where competitors like Netflix and Disney are still big.
But the legal fight could go either way. State efforts to halt mergers sometimes fail, but court cases often hold up the timeline. Delays can push up borrowing costs and stall expected savings. Reuters said Paramount could have to pay Warner Bros. Discovery shareholders about $650 million in cash per quarter as a ticking fee if the deal goes past its deadline, and a judge could order the companies to keep assets apart.
In a warning to driverless-car makers, the National Highway Traffic Safety Administration’s Jonathan Morrison said autonomous vehicles have a “clear pattern” of getting in the way of police and ambulances, citing issues like blocking emergency vehicles and missing flares, smoke, fire or cones. He called it a “functional insufficiency.” NHTSA didn’t list which firms got its letter, but the group includes Alphabet’s Waymo, Amazon-backed Zoox, and Tesla, all tied to the investor debate. Reuters
Nvidia, the main AI stock this year, faces an unrelated issue abroad. France’s antitrust watchdog said it’s close to wrapping up its inquiry into Nvidia’s suspected anti-competitive behavior. “We are nearing the end of the investigation,” general rapporteur Umberto Berkani told reporters. Reuters
Big Tech stocks also slipped in Europe. Apple failed to overturn EU Digital Markets Act rules, which require “gatekeepers” like app stores and OS providers to open access to competitors and allow for fines that can reach 10% of yearly global earnings. Apple called the rules unlawful, saying they threaten privacy and security. Reuters
France’s competition regulator told Meta to get back to the table with media groups and submit a payment proposal for digital use of news. The watchdog said Meta likely misused its power and broke EU “neighbouring rights” rules, which let publishers ask for payment. Meta responded it still wants a fair agreement. Reuters
This isn’t just about a single fine or one lawsuit. What’s really on the table is process risk—more legal filings, deals dragging on, product changes, new platform rules and sometimes investor uncertainty that’s tough to price before trading starts.
