Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
U.S. stock index futures moved lower on Thursday evening as weakness in technology and semiconductor stocks continued following Broadcom’s sharp post-earnings decline. Investors are now closely watching the upcoming U.S. nonfarm payrolls report, which could provide critical insights into the economy and influence expectations for Federal Reserve interest rate policy in 2026.
S&P 500 Futures fell 0.3% to 7,574.75, while Nasdaq 100 Futures dropped 0.7% to 30,266.25. Dow Jones Futures edged slightly lower to 51,642. The decline followed a mixed session on Wall Street, where investors rotated out of high-growth technology stocks and shifted toward more economically sensitive sectors.
Technology and semiconductor shares came under pressure after Broadcom (NASDAQ: AVGO) plunged 12.6% during regular trading and slipped further in after-hours activity. Although the company reported strong earnings growth, investors were disappointed that Broadcom maintained its long-term artificial intelligence chip revenue target of $100 billion by 2027 instead of raising guidance. The market had anticipated a stronger outlook amid ongoing AI-driven demand.
The broader semiconductor sector also weakened, with the Philadelphia Semiconductor Index losing 2.2%. Major chipmakers including AMD, Intel, and Micron Technology posted declines, while Nvidia managed to gain 2%. Analysts noted that semiconductor stocks were vulnerable to profit-taking after reaching record highs in recent weeks due to enthusiasm surrounding artificial intelligence investments.
Meanwhile, the Dow Jones Industrial Average reached a record high as investors favored industrial and cyclical stocks over technology shares. The S&P 500 gained 0.4%, while the Nasdaq Composite finished slightly lower.
Market participants are now focused on Friday’s May nonfarm payrolls report. Economists expect slower job growth compared to the previous month, reflecting economic pressures linked to ongoing geopolitical tensions involving Iran and the Middle East. Strong labor market data, combined with persistent inflation concerns, could give the Federal Reserve additional reasons to keep interest rates elevated or potentially consider further tightening later in 2026.
Investors will closely monitor employment data for clues about the strength of the U.S. economy, future monetary policy decisions, and the direction of stock markets in the weeks ahead.
