Bloomberg — 2026-06-25#

Lead Story#

Micron Technology Inc. delivered a blockbuster sales forecast that crushed estimates and singlehandedly revived the artificial intelligence trade on Wall Street. The blowout outlook overshadowed a hot US inflation print, driving a global tech rebound and pushing US stock futures higher as investors bet that the AI infrastructure boom still has plenty of runway.

Markets & Economics#

• US Inflation Climbs as Consumers Spent More in May: US consumer spending accelerated 0.3% in May on an inflation-adjusted basis, even as the personal consumption expenditures price index jumped 4.1% year-over-year. The resilience suggests Americans are powering through the economic fallout of the Iran war, though short-term Treasuries rallied as the core reading eased some immediate rate-hike bets.
• Yen At Historic Low Set to Hand Japan Carmakers $5.8 Billion: The Japanese yen’s slide to a 40-year low is poised to deliver a massive $5.8 billion profit windfall for domestic automakers this year. The currency weakness persists even as Tokyo inflation picks up and a hawkish Bank of Japan board member calls for rate hikes every few months.
• Brent Oil Erases Wartime Gains as Hormuz Reopening Boosts Supply: Crude prices fell back to pre-war levels as exports from the Persian Gulf rebounded to 75% of their normal volume following an interim US-Iran peace deal. The decline happened despite reports of a cargo ship being struck by a projectile in the Strait of Hormuz.
• Bitcoin’s $10 Billion Options Expiry Risks Deepening Selloff: The world’s largest cryptocurrency is bracing for a massive $10 billion options expiry that threatens to compound recent losses. The market is already reeling from fading institutional demand and cracks in Michael Saylor’s Bitcoin-buying financial structure.

Business & Industries#

• Merck KGaA Agrees on $11.3 Billion Purchase of Bio-Techne: Germany’s Merck KGaA is acquiring US life sciences firm Bio-Techne in a blockbuster deal that marks the company’s biggest acquisition in over a decade. The $11.3 billion transaction helps push German M&A past the $120 billion mark in what is becoming a banner year for the country’s dealmakers.
• Apple Raises Mac, iPad Prices as Memory Shortage Pushes Up Costs: Apple Inc. is taking the rare step of raising consumer prices across its hardware lineup, including Macs, iPads, and the Vision Pro. The hikes are designed to offset surging costs triggered by an unprecedented global shortage of memory and storage chips.
• SK Hynix Surges 12% as US Listing Plan Boosts Valuation Hopes: Shares of the South Korean memory chipmaker jumped after it revealed plans for a $29 billion US listing. Analysts believe the move will increase foreign investor access and help close the company’s valuation gap with American rival Micron.
• Supreme Court Shields Bayer From Roundup Cancer-Warning Suits: Bayer AG won a crucial US Supreme Court ruling blocking tens of thousands of claims that its Roundup weedkiller should have carried a cancer risk label. The decision could help stem a decade-long flood of litigation that has cost the agricultural giant over $10 billion.

Policy & World#

• Screams Echo as Venezuela Searches for Survivors After Quakes: Back-to-back earthquakes, peaking at a magnitude 7.5, devastated Caracas and coastal states, leaving at least 164 dead and buckling critical infrastructure. The crisis has prompted the Venezuelan government to tap its IMF reserve assets to help fund emergency reconstruction efforts.
• Senate Rejects Iran War Powers Resolution After Trump Pressure: The US Senate voted down a resolution to end the Iran war after President Donald Trump fiercely rebuked GOP lawmakers at a private lunch. The clash comes as the White House demands an $88 billion supplemental package to backfill the costs of the conflict.
• Supreme Court Bolsters Right to Carry by Voiding Hawaii Gun Law: Continuing a wave of consequential rulings, justices expanded constitutional gun rights by striking down a Hawaii law restricting firearms on private property. A separate decision granted the White House broad power to revoke deportation protections for 350,000 Haitians and 7,000 Syrians.
• US Invests $250 Million in Billionaire’s Startup for Chip Making: In a bid to reduce reliance on foreign supply chains, the US government is directing $250 million to I-Pulse Inc. The semiconductor and pulsed-power venture was co-founded by billionaire Robert Friedland and joins American efforts to on-shore critical technology.

Opinion & Analysis#

• The Supreme Court Just Betrayed Asylum Seekers: Harvard Law’s Noah Feldman argues that the Supreme Court’s latest ruling allowing the US to stop asylum seekers at the border without assessing their danger is a masterclass in the absurdities of legalism. He calls the decision a betrayal of America’s moral ideals.
• Will Gen Z’s Financial Trauma Make It More Cautious?: Drawing parallels to children of the Great Depression, a new column explores whether Generation Z will suffer from lingering financial trauma. Having entered adulthood during a pandemic and ensuing economic chaos, the cohort’s appetite for investing in risky assets may be permanently suppressed.
• A $10 Trillion Industry Sprang Up When We Weren’t Looking: Despite the Trump administration’s efforts to dismantle clean-energy policies, green energy has quietly become a self-sustaining juggernaut. The sector has proven it no longer relies on government financial props to trounce other segments of the economy.