Super Micro Computer to Replace Walgreens in Nasdaq 100, Alphabet in Talks to Acquire Cybersecurity Firm Wiz

Super Micro Computer is set to replace Walgreens Boots Alliance in the Nasdaq 100 index from July 22. The markets experienced a recovery on Friday, with the SP 500 and Nasdaq Composite closing higher, while the Russell 2000 continued its rally with a weekly gain of 6.5%. Earnings season has begun, with Citigroup, JP Morgan, Wells Fargo, and Goldman Sachs reporting their second-quarter earnings. The estimated growth rate for the season has been revised up to 9.3%, but there are other estimates that place it in a range of 12-16%, indicating high expectations for this quarter. Alphabet is reportedly in advanced talks to acquire cloud cybersecurity firm Wiz for $23 billion, while Burberry Group's shares have fallen by almost 17% after the luxury brand issued a profit warning and suspended its dividend, with plans to replace its CEO. Blackrock's shares remain unchanged in premarket trading despite missing revenue estimates but beating earnings, while Goldman Sachs' stock rose by just under 1% premarket after beating both revenue and earnings estimates. The market is also keeping an eye on the continued rotation into small cap stocks and the recent rally in bitcoin.