The Biden Administration awarded Intel Corp up to $3 billion from the CHIPS and Science Act on Monday. The money is part of the government’s plan to develop a "Secure Enclave" for microelectronics critical component to a wide range of weapon systems and other national security products.

Apple tumbles on concerns about demand for the iPhone 16, Trump Media shares slide after sharp gains on Friday, Boeing will freeze hiring amid a walkout at the jet maker, and Micron’s price target is slashed significantly by Morgan Stanley.

The stock market edged higher in the morning but gave up the gains by midday. At last check the S&P 500 lost 0.27% and the tech-heavy Nasdaq Composite edged 0.08% lower. The Dow Jones Industrial Average lost 0.

Key Takeaways U.S. equities were mixed around midday as investors focused on what will happen Wednesday, when the Federal Reserve is expected to begin cutting interest rates.Intel received a $3.5 billion contract to build chips for the U.