Stocks, oil, metals and Europe all moved before the U.S. open
U.S. stock futures were modestly higher ahead of the open. Dow futures rose 0.64%, S&P 500 futures added 0.51%, and Nasdaq 100 futures gained 0.74%.
Oil traded in a narrow range. WTI crude futures rose 0.22% to $87.022 a barrel, while Brent crude futures climbed 0.28% to $94.047 a barrel.
Spot gold and silver were both stronger. Gold rose 1.30% to $4577.85 an ounce, and silver gained 1.84% to $69.32 an ounce.
Europe’s major benchmarks also edged up. The FTSE 100 rose 0.20%, France’s CAC 40 added 0.20%, and Germany’s DAX 30 climbed 0.34%.
Micron says AI has changed memory demand
Micron Technology CEO said AI has completely changed the outlook for the storage industry and is creating a more durable source of memory demand. He added that current customer demand is about 50% above what Micron can commit to supply.
OpenAI, Anthropic and SpaceX each announced updates
OpenAI launched a new feature that lets users control Apple’s iMessage service through the Mac version of ChatGPT. The feature could put it in direct competition with Apple’s Siri AI, which is expected next month.
Anthropic said it expects to roll out a new safety system for its Claude chatbot later this year. The system will still retain enterprise customer data for 30 days, but it will allow that data to be stored on the customer’s own cloud servers.
Elon Musk said the plan to recover Starship’s second stage may be delayed by several months, and the next Starship test flight could come at the end of this year or early next year. He also said SpaceX is targeting about 10,000 launches a year by 2030, and that revenue growth by the late 2030s will be far above 2,000%.
Court delays Google-Spirit data deal, BofA flags Treasury risks
A bankruptcy court in Manhattan delayed approval of Google’s $10 million purchase of Spirit Airlines data.
Bank of America said Treasury Secretary Bessent’s buyback plan amounts to a form of “quasi” quantitative easing. If the 30-year Treasury yield cannot be pushed below 5%, it could spark short bets on risk assets.