01 Stock Market
U.S. stock futures jumped Wednesday after President Donald Trump said he was suspending Iran attacks for two weeks just ahead of his 8 p.m. ET deadline, pausing a five-week conflict that closed a crucial waterway for global energy supply and sent equity prices reeling.
Futures tied to the Dow Jones Industrial Average rose by 1,220 points, or 2.6%, by 8:39 a.m. E.T. S&P 500 futures added 2.6%, and Nasdaq 100 futures climbed 3.4%.
Notable Stock Movers: A powerful semiconductor bid lifted **MU up 9.02% at $411.65**, **NVDA up 3.73% at $184.75**, **AMD up 5.18% at $233.01**, and leveraged fund **SOXL up 17.01% at $66.17**. Mega-caps joined the advance with **MSFT up 3.31% at $384.60**, **AAPL up 2.28% at $259.27**, and **GOOG up 4.25% at $316.85**. Electric-vehicle bellwether **TSLA up 4.86% at $363.51** after sharp recent under-performance, while chip-maker **TSM up 6.49% at $367.74** gained on AI-driven demand expectations. Conversely, energy majors felt the brunt of collapsing crude: **XOM down 5.3%** and **CVX down 4.6%** in early quotes as traders anticipated weaker margins after the oil price plunge.
02 Other Markets
• 10-year U.S. Treasury yield fell 2.47%, to 4.24%.
• U.S. Dollar Index fell 0.99% to 98.66.
• WTI crude oil futures fell 18.04% to 92.57 USD/barrel; COMEX gold futures rose 3.17% to 4 833.40 USD/ounce.
03 Key News
Trump Threatens 50% Tariffs on Iran Arms Suppliers After Ceasefire
President Donald Trump imposed a 50% tariff on any country that will supply military weapons to Iran.
"A Country supplying Military Weapons to Iran will be immediately tariffed, on any and all goods sold to the United States of America, 50%, effective immediately. There will be no exclusions or exemptions!" Trump said on Truth Social.
The news comes after the U.S. and Iran agreed to a two-week ceasefire just hours before Trump’s deadline for escalation, with Tehran agreeing to temporarily reopen the Strait of Hormuz.
Unity Shares Jump as Company Extends VR Partnership with Meta
Unity shares rose about 7% in premarket trading on Wednesday after the company said it had extended a multi-year agreement with Meta (META) to support development on its virtual reality platform.
Unity and Meta said the renewed partnership builds on their existing collaboration, with Unity continuing to provide tools and platform support for developers creating applications and games for Meta’s VR ecosystem.
The companies said the partnership aims to simplify the process for developers to create, deploy and scale content on Meta’s VR devices, spanning both gaming and business applications.
Grab to Lean on Scale, AI to Navigate Rising Fuel Costs, CEO Says
Southeast Asia's top ride-hailing and delivery firm Grab believes artificial intelligence-led products and services will help it drive growth and navigate challenges such as affordability and rising fuel costs in the wake of the war in Iran, company CEO Anthony Tan told Reuters.
The Singapore-based company earlier this year expanded outside Southeast Asia for the first time when it purchased Delivery Hero's Foodpanda delivery business in Taiwan.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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