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.
The US military struck more than 80 targets in Iran for a second consecutive day, prompting President Donald Trump to declare a tentative ceasefire “over” while threatening to resume a blockade on the country’s ports. Trump also revoked a 60-day waiver that had allowed Tehran to sell oil globally, leaving tens of millions of barrels of crude currently at sea in limbo. The sudden geopolitical escalation sent Brent crude jumping as much as 3% to top $76 a barrel, while global equities tumbled, bonds retreated, and the US dollar attracted safe-haven flows.