Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
U.S. stock index futures held steady Wednesday evening after the S&P 500 hit a record high, driven by Netflix’s strong earnings and optimism over President Donald Trump’s AI investment initiative. S&P 500 Futures were flat at 6,118.0 points, while Nasdaq 100 Futures dipped 0.1% to 21,970.50. Dow Jones Futures remained steady at 44,354.0 points.
Netflix (NASDAQ:NFLX) shares soared 10% after reporting 19 million new subscriber additions in Q4 2024, smashing expectations. Revenue rose 8% to $9.5 billion, while net income increased 12% to $915 million. The streaming giant announced U.S. and international price hikes, citing higher programming investments.
AI stocks surged as Trump unveiled a $500 billion AI initiative, Stargate, a joint venture with OpenAI, Oracle (NYSE:ORCL), Microsoft (NASDAQ:MSFT), NVIDIA (NASDAQ:NVDA), and SoftBank (TYO:9984). The project aims to build AI data centers and power facilities in Texas, boosting the sector’s growth. Oracle shares rose 7%, Microsoft gained 4.1%, and Nvidia climbed 4.4%.
Arm Holdings (NASDAQ:ARM) surged 16%, while Amazon (NASDAQ:AMZN) rose 2%, pushing the S&P 500 to a record high of 6,100.81 points before closing 0.6% higher at 6,086.28. The NASDAQ Composite rose 1.
