Independence Day closure shifts attention to AI chips, fund flows and energy scrutiny

U.S. markets were closed for Independence Day, so QQQ and SPY carried their July 2 closing levels without a trading move. The day's context centered on a reported $6.5 billion Meta-Samsung AI-chip agreement, a $17.2 billion weekly outflow from U.S. equity funds, and federal pressure on states to investigate elevated gasoline prices.