Stock Market
As of Jun 25, U.S. stock index futures performed as follows: Dow Jones Industrial Average futures added 0.12%, S&P 500 futures advanced 0.65%, and Nasdaq 100 futures leapt 2.12%. The tech-heavy contract’s outperformance mirrors renewed enthusiasm for memory and AI-related names after upbeat earnings, setting a constructive tone ahead of the opening bell.
Notable Stock Movers: MU up 17.21% at $1228.99; SOXL up 14.34% at $262.50; QCOM up 10.62% at $218.37; WDC up 12.4% at $723.67; IBM up 2.67% at $269.99; NVDA up 0.82% at $200.63; TSLA up 0.18% at $376.21; TCOM fell 12.53% at $40.50. Gains concentrate in memory, networking and leveraged semiconductor ETFs, while selected travel-service ADRs retreat on softer guidance.
Sector and thematic trends: Pre-market action highlights an aggressive rotation into high-bandwidth memory suppliers, data-center enablers and AI hardware proxies, extending year-to-date leadership for the PHLX Semiconductor Index; conversely, discretionary travel and selected China consumer platforms face pressure amid cautious outlooks.
Other Markets
• 10-year U.S. Treasury yield rose 0.40%, to 4.42%.
• U.S. Dollar Index rose 0.13% to 101.70.
• WTI crude oil futures fell 0.85% to 69.74 USD/barrel; COMEX gold futures fell 0.28% to 3997.50 USD/ounce.
Key News
1. Micron Technology forecast sharply higher profit and secured $22 billion in long-term supply commitments. The memory maker said demand from artificial-intelligence data centers is outstripping capacity, guiding to revenue well above consensus and locking in 16 take-or-pay agreements worth about $100 billion, underpinning margins through 2027.
2. IBM unveiled a breakthrough 0.7-nanometer “nanostack” chip architecture. The design vertically stacks transistors to pack nearly 100 billion on a fingernail-sized die, promising up to 50% higher performance or 70% better energy efficiency; licensing and mass production partnerships are being explored for rollout within five years.
3. Qualcomm raised its long-term outlook, targeting $15 billion in data-center sales by 2029. Management told investors that custom AI accelerators and networking chips will broaden revenue streams beyond smartphones, lifting pre-market shares and intensifying competition in high-performance computing.
4. BlackBerry lifted its full-year revenue guidance on accelerating QNX adoption. The software maker now expects up to $621 million in fiscal-year sales as automotive customers expand next-generation vehicle programs, with a $1 billion royalty backlog supporting multi-year growth visibility.
5. McCormick beat quarterly earnings expectations and advanced a $45 billion food-unit merger with Unilever. Strong at-home seasoning demand drove a 26% profit beat; management said the planned combination would diversify into condiments and meal solutions, pending regulatory clearance.
6. Autozi Internet Technology secured up to $5.25 million via a convertible promissory note. The financing provides immediate liquidity for the auto-parts e-commerce platform, with an investor option for an additional $2.5 million; management aims to expand operational capacity and accelerate business transformation.
7. Wendy’s appointed former Potbelly executive Steve Cirulis as Chief Financial Officer and Chief Strategy Officer. The leadership move supports a turnaround plan under new CEO Robert Wright, with market participants anticipating cost discipline and menu innovation to bolster profitability.
8. FTSE Russell confirmed its June reconstitution will add SpaceX to the Russell 1000 Index. The shake-up, one of the largest on record, prompts portfolio realignments affecting megacaps such as Microsoft and Apple, with estimated trading flows of nearly $150 billion at the close.
9. Iraq warned OPEC it may seek a higher production quota or consider exiting the group. Officials said current limits strain fiscal resources and that all options remain on the table, adding pressure ahead of forthcoming supply negotiations within the producer alliance.
10. Trip.com reported a 41% drop in quarterly net profit and guided to slower second-quarter revenue growth. Management cited elevated energy costs, geopolitical headwinds and regulatory rectifications, projecting 3%–8% growth and triggering a double-digit pre-market share decline.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
