Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
U.S. stock futures rose sharply Wednesday night, driven by strong earnings reports from tech giants Microsoft and Meta Platforms. This positive momentum came after a choppy regular session where Wall Street posted modest gains despite weak economic data.
As of 8:13 p.m. ET, S&P 500 Futures were up 0.9% at 5,636.75, Nasdaq 100 Futures climbed 1.4% to 19,931.50, and Dow Jones Futures added 0.4% to reach 40,932.00.
Meta (NASDAQ:META) jumped 5.7% in after-hours trading following upbeat Q1 earnings and an increase in full-year capital expenditure guidance to $64–72 billion. The Facebook and Instagram parent plans to expand AI-focused data centers to support future growth.
Microsoft (NASDAQ:MSFT) also surged 7% post-market after reporting a 13% rise in quarterly revenue and projecting robust cloud growth of 34–35% in the fiscal Q4, reinforcing investor confidence in its AI-driven cloud strategy.
However, earlier in the day, U.S. GDP data surprised markets, showing a 0.3% annualized contraction in Q1, versus a 2.4% expansion in Q4. Analysts had expected modest growth of 0.2%. The downturn was partly due to a 41.3% spike in imports—the largest in five years—as buyers rushed to make purchases ahead of potential Trump-era tariffs.
Despite the economic miss, Wall Street indexes ended Wednesday with small gains. The Dow rose 0.4%, the S&P 500 edged up 0.2%, and the Nasdaq slipped 0.1%.
Investors now await earnings from Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN), due Thursday. Meanwhile, Starbucks (NASDAQ:SBUX) fell nearly 6% after weak global sales, and Caterpillar (NYSE:CAT) posted a profit decline. AI server firm Super Micro (NASDAQ:SMCI) dropped 11.5% after lowering its Q3 outlook.
