Wall Street Today: Market bull Tom Lee predicts a record September

Futures on the $S&P 500 Index(.SPX.US)$ ticked up 0.3%. The broad stocks gauge on Friday closed out a second week of gains, extending its rally to a series of record highs. Contracts for the $Dow Jones Industrial Average(.DJI.US)$ also rose 0.2% by noon ET. Futures for the technology-focused $NASDAQ 100 Index(.NDX.US)$ rose 0.3%.

Shares of mining companies and aluminum producers also jumped. Hong Kong-listed shares of Russia's United Co. Rusal rose over 14% by the close of trading Monday, while $CHALCO(02600.HK)$ rose over 5%. Australian bauxite miner $South32 Ltd. ADR(SOUHY.US)$ rose 2.1% in Sydney.

Big Boeing customer says it is walking away from new MAX order
$Ryanair(RYAAY.US)$, $Boeing(BA.US)$'s biggest customer outside of the U.S., said it is walking away from talks with the U.S. jet maker over a potential new order for the 737 MAX in a dispute over pricing.

Market bull Tom Lee predicts a record September, but warns that a 10% correction could come in October
Longtime market bull Tom Lee is predicting a profitable period for investors in September. According to Lee, the S&P 500 is positioned to surge more than 100 points this month. However, he warns the positive momentum has an expiration date.

"We could have a really strong rally in September," the Fundstrat Global Advisors' co-founder and head of research told CNBC's "Trading Session" on Friday. "We didn't think there was a window for a 10% correction for most of 2021. The window where we think you could start to have potentially a 10% pullback is October."

Many teens are reluctant to invest in the stock market after the GameStop frenzy, survey finds
Following $GameStop(GME.US)$'s rises and falls, only half of teenagers believe the stock market is "a good thing" for everyday Americans, according to a Junior Achievement survey. And 37% of teens wouldn't invest if given money to participate, responses show. Their reluctance to invest may put a "serious dent" in saving for the future, financial experts say.

Tech giants are rushing to develop their own chips
$Apple(AAPL.US)$, $Amazon(AMZN.US)$, $Facebook(FB.US)$, $Tesla(TSLA.US)$ and $Baidu(BIDU.US)$ are all shunning established chip firms and bringing certain aspects of chip development in-house, according to company announcements and media reports. Setting up an advanced chip factory, or foundry, like $Taiwan Semiconductor(TSM.US)$'s in Taiwan, costs around $10 billion and takes several years.

These companies want custom-made chips fitting their applications' specific requirements rather than use the same generic chips as their competitors.

Citi sets up new team to help 'emerging' Chinese companies expand to Singapore
$Citigroup(C.US)$'s commercial banking unit has set up a China desk in Singapore dedicated to helping "emerging" Chinese companies to expand into the city state and Southeast Asia, the bank told CNBC.

Many companies from China have set their eyes on expanding overseas — even as their large home market offers plenty of growth opportunities. Citi said its revenue from supporting client activity and flows from China to Singapore more than doubled in 2020 compared with the previous year.

Goldman Sachs's Petershill plans London listing
$Goldman Sachs(GS.US)$'s Petershill Partners said Monday it plans to list an investment vehicle on the London Stock Exchange, taking advantage of a sizzling market for private equity.

The deal, which would see Petershill's vehicle as a stand-alone company operated by Goldman Sachs Asset Management, could value it at more than $5 billion, said people familiar with the matter.

Source: CNBC, WSJ, Financial Times