US futures jumped Wednesday after a sharp sell-off triggered by the Federal Reserve's decision to hold rates steady. The S&P 500, Dow, and Nasdaq 100 futures all climbed as traders reset positions overnight.
Kroger reported Q1 results today. The grocery giant's executive flagged Q2 identical sales — excluding fuel — will be roughly in line with Q1. That cautious guidance kept sentiment muted on the consumer staples side.
Semiconductor names remain in focus. Apple and Intel grabbed headlines after Trump confirmed plans to build chips together. Options activity across the chip complex spiked. Analysts lifted Micron price targets to a consensus of $945.60. Arista Networks got a fresh Overweight reiteration from KeyBanc, with the target raised to $200.
Earnings season picks up next week. FedEx and both report on June 23. delivers its Q3 print on June 24 — the most-watched semiconductor report of the quarter.
On the insider front, Silver Lake Group disclosed $809M in Dell share sales. Applied Materials saw at least six executives file simultaneous sales totalling $107M.
Oil markets are the biggest macro story. The FT reports Iran crisis fears of $200 oil have faded fast. A glut is now the focus as supply disruption eases and ships resume normal routes through the Strait of Hormuz. Activist investor TCIM moved on Devon Energy after a major merger, adding pressure in the shale patch.
Alcoa signed two power purchase agreements with Norway's Statkraft to supply its aluminium site — a clean energy move that supports long-run cost competitiveness.
Wall Street banks are pressing US regulators to ease Basel capital rules further, building on what the FT calls their biggest lobbying win since the 2008 financial crisis.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
