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Good morning. Today is Friday, July 1st and I'm your host Julie Morgan.

Our top stories, 1970, Stable Coin, and Semiconductors, and later Ice, General Motors, FTX and American Airlines.

The last day of June saw another drop on Wall Street with the S&P 500 recording the worst

first half of a year since 1970.

The index declined nearly 0.9% to close below 3,800, while the NASDAQ led the days

slide falling by 1.3%.

Ahead of the opening bell today, Dow S&P and NASDAQ futures are on a roller coaster ride.

I'll give you the numbers as of 620 a.m. in just a few minutes. In our day watch a week

forecast prompted a wave of selling in our H restoration hardware. The stock plunged

nearly 11% on the day pushing to a new 52 week low.

The home furnishings retailer cut its fiscal 2022 forecast, blaming macroeconomic factors that

have dented consumer demand. The company now sees revenue falling

between 2% and 5% for the year. Previously the firm had predicted break-even or

slight growth. Micron Technology shares dipped after the semiconductor company posted third-quarter

results that beat estimates and issued guidance that was below Wall Street forecasts.

For the period ending June 2nd, Micron earned an

adjusted $2.59 on 8.64 billion in revenue. A consensus of analysts

were expecting the company to earn $2.45 a share on 8.66 billion in revenue.

Now more of our top stories. A White House official says stable coin

legislation may become law by the end of 2022.

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