Loading analysis...
Loading Truth Social...
Loading live updates...
Micron outlook lifts chips as oil sheds war premium
Risk appetite improved through the day as the early tech-futures bounce broadened into an AI-hardware rally, then accelerated after the close when Micron and Qualcomm gave investors fresh revenue targets. The other major macro swing was the continued unwind of the Middle East risk premium in crude, which helped ease energy stress even as idiosyncratic policy and capital-return stories moved housing and banks.• Semis/AI: OpenAI and Broadcom introduced an inference chip that Broadcom said could cut costs by about 50%, while Micron’s $50bn sales forecast and Qualcomm’s Meta data-center chip win lifted Nasdaq futures and Asian chip shares after hours.• Oil/Shipping: Brent fell back below its prewar close as tanker departures from the Gulf rose and Hormuz-linked commodity flows normalized, outweighing a larger-than-expected US crude draw.• Banks/Capital: All 32 large banks passed the Fed stress test; JPMorgan authorized $50bn of buybacks and raised its dividend, while Goldman also lifted its payout.• Housing/Autos: Homebuilders rallied after Trump delayed signing the bipartisan housing bill, but Hertz slumped after cutting 2Q profit expectations on weak used-car demand and vehicle-sale losses.
Oil falls to prewar levels as Asian chip shares rally
Risk tone improved in Asia on AI hardware follow-through, while crude continued to unwind war premium and rates headlines leaned hawkish outside the US.• Oil/Energy: Brent fell 1.8% to $72.40, below its prewar close, after Windward data showed 31 tankers left the Gulf on Wednesday, nearly 50% more than the prior day.• Semis/AI: SK Hynix rose as much as 12%, Samsung gained nearly 6%, the Kospi jumped up to 6% and the Nikkei 225 climbed as much as 3% after Micron’s outlook revived memory-chip confidence.• Japan/Rates: BOJ board member Naoki Tamura said rates should rise every few months and could move faster if inflation risks intensify.• Autos/FX: Bloomberg estimated the weak yen could add $5.8bn to Japanese automaker earnings, with Toyota especially sensitive.• Australia/Macro: Australia added 40,300 jobs in May and unemployment fell to 4.4%, keeping RBA hikes in play.
Micron lifts Nasdaq futures after sales forecast tops estimates
AI hardware news reversed some after-hours risk pressure, while bank capital returns and defense spending added fresh single-name catalysts.• Semis/AI: Micron forecast fiscal fourth-quarter revenue of about $50bn versus $43.2bn expected and adjusted EPS of about $31; shares rose about 13%-15% after hours, lifting Nasdaq 100 futures nearly 2%.• Qualcomm/Meta: Qualcomm said Meta will use its Dragonfly C1000 data-center chip from 2028, projected more than $15bn in annual data-center AI chip sales by fiscal 2029, and rose up to 15% late.• Banks/Capital: All 32 large banks passed the Fed stress test. JPMorgan raised its dividend to $1.65 and authorized $50bn of buybacks; Goldman lifted its payout to $5.• Defense: Lockheed won an up-to-$35bn THAAD contract, and the White House sought $88bn in new spending, including $67bn tied to the Iran war.• AI/China: Anthropic alleged Alibaba used 25,000 fraudulent accounts to access Claude; Alibaba did not comment.
Broadcom gains on OpenAI chip while Trump delay lifts homebuilders
AI infrastructure and policy headlines drove the cleanest equity moves, while oil weakened despite a bullish US inventory draw.• AI/Semis: OpenAI and Broadcom unveiled the Jalapeno inference chip, with Broadcom citing early cost savings of about 50% versus typical AI GPUs and deployment above 1.3GW next year.• Housing/Policy: Trump canceled the planned signing of the bipartisan housing bill pending voting legislation; listed builders rallied, with KB Home up 16.4% and PulteGroup up 8.8%.• Oil/Energy: Brent’s prompt spread flipped into contango and crude slid toward prewar levels as Hormuz flows improved; the EIA still reported a larger-than-expected 6.1mn-barrel crude draw.• Power/AI: Sunrun jumped more than 30% after a Tesla and Renew Home deal to aggregate 16GW for data centers and utilities.• Autos: The NTSB opened a probe into the fatal Texas Tesla crash.
SK Hynix seeks $29 billion Nasdaq listing as Hertz cuts profit expectations
AI infrastructure stayed central, with a mega chip-financing plan and fresh evidence of escalating data-center liabilities, while Hertz added a discrete consumer and used-car warning.• Semis/AI: SK Hynix filed to raise Won45.45tn ($29.4bn) via Nasdaq ADRs starting July 10, one of the largest share sales on record, to fund HBM expansion.• Autos/Rental: Hertz fell 18% premarket after saying 2Q adjusted corporate Ebitda should be $50mn-$80mn, toward the low end, as used-car demand weakened and vehicle-sale losses replaced expected gains.• Data Centers: Bloomberg said future lease obligations at major cloud companies exceeded $850bn; Meta added $79bn to $182.9bn and Microsoft added more than $41bn to $196.6bn.• Qualcomm: Qualcomm confirmed it bought AI software startup Modular; terms were undisclosed, though earlier reporting put talks near a $4bn valuation.• Oil/Shipping: Fertilizer exports through Hormuz recovered to nearly 530,000 tons last week, with at least 18 stranded vessels leaving.
Tech futures rebound as Prologis pursues Segro
US tech futures indicated a modest bounce, while deal flow, energy normalization and regulatory headlines added company-specific catalysts.• Tech/Futures: Nasdaq 100 futures rose 0.6% and S&P 500 futures gained about 0.2% after the two-day Nasdaq 100 market-cap loss reached roughly $1.3tn.• Real Estate/M&A: Prologis said Segro rejected its £12.6bn all-share approach, worth 925p a share and a 24.6% premium; Prologis urged holders to press for talks.• Energy/Consumers: Trump ordered the Justice Department to examine gasoline prices, saying pump prices are not falling fast enough; US diesel fell below $5 a gallon for the first time since mid-March.• LNG/Oil: Qatar expects undamaged LNG output to normalize within weeks, while Asian refiners slowed Middle East crude buying after a three-week rush.• Aerospace: EASA ordered urgent checks on 16 Airbus A380s after wing-spar cracks were found.
Nasdaq slides after global chip rout deepens
US equities finished in a tech-led risk-off tape, though the worst pressure eased after the open and Asian chip shares later partially rebounded. Oil stayed soft as Hormuz traffic and Washington politics reduced the immediate geopolitical risk premium.• Tech/Semis: Nasdaq 100 futures fell about 3% before the open, the SOX lost 7.9% by the close, and Micron dropped 13% ahead of earnings. Korean chip shares then rebounded in late trading after the prior rout.• Oil/Iran: Brent settled at $77.08, its lowest since February, as tanker traffic through Hormuz continued and the Senate voted to direct Trump to end the Iran war or seek authorization.• Index/Single Stocks: S&P Dow Jones said Alphabet will replace Verizon in the DJIA on Monday, giving Alphabet a much larger index weight because of its above-$300 share price.• Credit/Deals: SpaceX drew about $89 billion of demand for a planned $20 billion-$25 billion investment-grade debut, while Walmart agreed to buy Vibe.co to expand connected-TV advertising.• Macro/Rates: The dollar reached its highest level since November as markets priced nearly two Fed hikes by early 2027, even as Treasuries rallied during the equity selloff.
Korean chip shares rebound as Nvidia black-market prices double
Asia trading showed a partial reversal in chip stress, while policy and regulatory news added discrete sector catalysts.• Tech/Semis: Korea’s Kospi rose as much as 4.2%; Samsung gained 10% on a buyback report and SK Hynix rose more than 5%.• Nvidia/China: FT said banned Nvidia AI chips more than doubled in China’s black market, with DGX B300 servers above Rmb8mn and RTX 6000 Pro chips as high as Rmb130,000.• Macro/Rates: Australia’s trimmed-mean inflation rose to 3.6%, above forecasts, lifting the Aussie dollar and three-year yields.• Housing: Congress passed a bipartisan housing bill aimed at easing manufactured-home, zoning and conversion rules; builders warned rates and costs may blunt impact.• Internet/China: Meta will invest $900mn for 20% of India’s Cred; Alibaba sued the Pentagon over its military-linked company designation.
Alphabet joins Dow as AI selloff deepens
After-hours index and earnings news joined a confirmed tech-led risk-off close, while oil kept sliding as Washington moved symbolically against the Iran war.• Index/Telecom: S&P Dow Jones said Alphabet will replace Verizon in the DJIA on Monday; Alphabet’s above-$300 stock price gives it a much larger index weight than Verizon.• Tech/Semis: The Nasdaq fell 2.2%, the S&P 500 1.4% and SOX 7.9%; Micron lost 13% and all 30 SOX members declined ahead of Micron’s Wednesday report.• Oil/Iran: The Senate voted 50-48 to direct Trump to end the Iran war or seek authorization; Brent settled at $77.08, the lowest since Feb. 27.• Earnings/AI: Cerebras fell about 8% after projecting 2026 revenue of $855mn-$865mn and full-year core operating margins of negative 28%-32%.• Transports/Retail: FedEx beat F4Q EPS and revenue estimates and guided 2026 EPS to $16.90-$18.10; Nike rose after naming Pfizer’s David Denton CFO.
Nasdaq steadies as SpaceX bond demand hits $89 billion
Risk remained tech-led, but the worst opening pressure eased by midday while credit demand for SpaceX contrasted with equity volatility.• Tech/Semis: The Nasdaq 100 fell more than 3% at the open before the Nasdaq composite narrowed losses to over 1%; the Philadelphia Semiconductor Index dropped as much as 7.7%, with Micron down about 10%.• Credit/SpaceX: SpaceX drew about $89 billion of demand for a planned $20 billion-$25 billion debut investment-grade bond sale; the stock dipped below $150, then rebounded above $163.• Macro/FX: The dollar hit its highest level since November as markets priced nearly two Fed hikes by early 2027, even as Treasuries rallied on the equity selloff.• Travel/Leisure: Carnival fell about 6%-7% after revenue missed and management cited Iran-war disruption to Mediterranean bookings and fuel costs.• Retail/Ads: Walmart agreed to buy Vibe.co, with WSJ reporting a $1.4 billion price, to expand connected-TV advertising.
Nasdaq futures slide further as crude spreads weaken
Risk stayed defensive before the open, with AI-linked shares under renewed pressure and oil fundamentals softening despite fresh political noise around Hormuz.• Tech/Volatility: Nasdaq 100 futures fell about 3%; Micron dropped 7% premarket, Intel and AMD 6%, and the VIX call/put ratio reached its highest this year.• Oil/Hormuz: Kpler counted 109 vessels through Hormuz from Saturday to Monday, but the IMO still saw a 500-600-ship backlog; North Sea and Dubai crude spreads weakened into contango.• Iran Diplomacy: Trump insisted Iran accepted the “highest level” inspections, while Tehran denied talks on the nuclear file and Iran-Oman working groups advanced Strait service-fee discussions.• Regulation/Meta: The EU is preparing DSA findings that Facebook and Instagram use addictive designs on children; fines could reach 6% of global sales.• Nuclear/Deals: Constellation will supply Walmart 176 MW from Dresden as Washington plans $17.5bn of low-cost loans for new Westinghouse reactors.
Nasdaq futures slide after Asia chip rout triggers Korea halt
Risk-off deepened as the AI unwind spread into Europe and U.S. futures, while softer oil and PMIs shifted focus back to growth risk.• Tech/AI: Nasdaq 100 futures fell as much as 2.6%; Korea’s Kospi dropped 10% after a trading halt, with Samsung and SK Hynix down over 12%, and ASML fell nearly 4%.• Oil/Iran: Brent traded below $77 as visible Hormuz crossings rose to seven tankers Tuesday morning and Iran courted Asian buyers for 68mn barrels of floating crude after the U.S. waiver.• Macro/Rates: Euro-zone PMI improved to 49.5 but stayed in contraction; Germany fell to 48, France stayed below 50 and the UK slipped to a 14-month-low 49.4.• Autos/Software: Tesla’s Europe registrations more than doubled in May; Oracle cut headcount 13% to 141,000 and booked $1.84bn of restructuring costs.
Oil risk premium fades after Washington waives Iranian crude sanctions
Oil de-escalation drove the day’s main macro impulse, with crude selling off as diplomacy, flows and a sanctions waiver reduced the perceived Hormuz tail risk. That relief was partly offset by a late wobble in risk appetite as hawkish Fed commentary, yen intervention risk and tech-specific stress weighed on growth equities into the close and after hours.• Oil/Iran: Brent and WTI fell through the US session after negotiators outlined a 60-day roadmap, tanker traffic improved and Treasury issued a 60-day license allowing Iranian crude sales, including dollar purchases. WTI later bounced modestly as Tehran disputed renewed inspection commitments and traders questioned Hormuz logistics.• Tech/AI: The Nasdaq lost more than 1.3% as SpaceX reportedly prepared a large bond sale and Alphabet fell after another DeepMind executive left for a rival AI lab. Korean chip stocks also sold off ahead of Micron results.• Rates/FX: Goolsbee said inflation remained well above target and was moving the wrong way, while Japan repeated that it could intervene at any time as dollar/yen hovered near 162.• Deals/Single names: AbbVie agreed to buy Apogee for $10.9bn, Getty surged on a ChatGPT image-licensing deal, and Avis jumped after a $650mn litigation settlement.
Avis jumps on $650mn settlement as yen intervention risk rises
Macro pressure broadened across FX, oil and Asia tech, while legal and labor rulings added idiosyncratic risk after hours.• FX/Rates: Japan confirmed Katayama-Bessent FX talks and repeated it could act “at any time” as dollar/yen hovered near 162; a five-year JGB auction drew the weakest bid-cover since February.• Oil/Iran: WTI rose 0.5% to $74.21 on doubts over inspector access and whether Iran’s insurance requirements will slow Hormuz tanker flows.• Autos/Legal: Avis rose more than 10% after Pentwater agreed to pay $650mn cash to settle short-swing-profit litigation tied to April volatility.• Chips/Asia: Korea’s Kospi fell as much as 4.6%; Samsung and SK Hynix lost over 5%, with Micron results looming.• Labor/Amazon: An NLRB judge ordered Amazon to bargain with Teamsters at a San Francisco delivery center; Amazon said it will appeal.
Goolsbee flags inflation as SpaceX tumbles
Tech tape stayed fragile while rates risk reappeared, with several single-name after-hours moves adding idiosyncratic pressure.• Markets/SpaceX: The Nasdaq lost more than 1.3% as SpaceX fell 16.4% to $154.60, wiping out about $400bn in market value; WSJ said it may price more than $20bn of bonds Tuesday.• Rates/Fed: Chicago Fed President Austan Goolsbee said inflation is “well above” target and “going the wrong way,” reinforcing the hawkish tilt in Fed pricing.• Autos/Safety: NHTSA opened a special probe into a fatal Texas crash involving a Tesla Model 3; police said the driver reported using driver assistance.• Chips/M&A: Qualcomm is in advanced talks to buy AI-chip startup Modular at about a $4bn valuation, Bloomberg reported.• Credit/Health: Apollo capped withdrawals from its $25bn retail private-credit fund after 16.8% redemption requests; Pfizer’s lung-cancer ADC missed its survival endpoint.
Oil falls after US waives Iranian crude sanctions
Oil supply risk eased further, but the Iran inspection track became less certain while tech weakness weighed on the Nasdaq.• Iran/Oil: Treasury issued a 60-day license allowing Iranian oil sales through Aug. 21, including dollar purchases and potentially U.S. buyers; Bloomberg said Iran shipped more than 30mn barrels to Asia in the past week.• Iran Diplomacy: Tehran said it made “no new commitments” on nuclear inspections, contradicting Vance and Trump, who presented renewed IAEA access as agreed.• Tech/AI: Alphabet fell as much as 7.2% after DeepMind’s John Jumper joined Anthropic, following Noam Shazeer’s move to OpenAI.• EVs: Lucid will cut about 18% of its U.S. workforce, eliminate its COO role and second production shift, targeting $158mn in annual savings.• Energy Policy: Interior proposed cutting federal drilling bond requirements 95% to $25,000, subject to comment.
Oil stays lower after Vance says Iran accepted nuclear inspectors
Risk appetite held firmer with oil below $80, though rates pressure persisted as hawkish calls and inflation data built.• Iran/Oil: Vance said Iran agreed to readmit IAEA inspectors and create mechanisms for Hormuz de-mining and Lebanon cease-fire oversight; Kpler counted 45 tanker crossings since Saturday, still below prewar rates.• Rates/Macro: BofA moved to three Fed hikes this year from no change; Canada CPI rose to 3.2% in May versus 3.0% forecast on gasoline.• Biopharma M&A: AbbVie agreed to buy Apogee for $10.9bn cash, or $135.11 a share, a 49% premium; Apogee was halted after rising about 52%.• AI/Power: Chevron signed a 20-year deal to supply Microsoft’s West Texas AI data center from a planned 2.7GW gas-fired project.• Media/AI: Getty Images surged about 200% premarket after licensing images for ChatGPT search and discovery; terms were undisclosed.
Oil falls after US-Iran talks produce 60-day roadmap
Oil risk eased further as talks ran longer and physical crude flows through Hormuz improved, while company news centered on easyJet and crypto rules.• Oil/Hormuz: Brent fell 2% to $78.94 and WTI slipped 0.9% to $75.19 as Iran moved about 6mn barrels from Kharg through Hormuz, the highest since the war began; Kuwait also offered naphtha requiring buyers to transit the strait.• Iran Talks: Switzerland said negotiators agreed on a roadmap aimed at a final agreement within 60 days; Iranian state media said its delegation left after 18 hours of talks.• Airlines/M&A: easyJet rejected Castlelake’s third proposal, a 625p-a-share bid valuing the carrier at about £4.7bn, ahead of a June 26 deadline.• Crypto/Policy: The Bank of England dropped proposed stablecoin user caps and instead proposed a temporary £40bn issuer limit, a softer stance for the sector.