US stocks opened higher, with the Nasdaq rising 1.6%, Microsoft gaining approximately 12%, and the storage sector rallying sharply.

According to Bitget market data, USD/JPY has plunged sharply and continued its downward trend, with a cumulative drop of over 400 pips and a daily decline of 3%. It is now trading at 158.5, marking the largest drop since the Japanese government intervened in the market earlier this year. Market speculation suggests Japanese authorities may intervene again to support the yen, as the Bank of Japan will announce its interest rate decision tomorrow. The yen has weakened significantly recently, hitting a nearly 40-year low. Although the Japanese government implemented a record total of 11.73 trillion yen (about $73.2 billion) in foreign exchange market interventions between April 28 and May 27 to prevent USD/JPY from falling below the 160 threshold, the yen has remained under pressure since then. According to foreign exchange reserve data released by Japan's Ministry of Finance, the funds needed for the Japanese government's recent forex market interventions are likely to come from sales of its held foreign securities assets, including U.S. Treasury bonds.

According to market data from BIT (bit.com), US stocks staged a broad-based rally, with the semiconductor storage sector leading gains. The Nasdaq rose over 2%, the Dow added 0.48%, and the S&P 500 gained more than 1%. The Philadelphia Semiconductor Index jumped over 6%, on track for its largest single-day gain in a month. All major storage stocks surged over 10%: Micron Technology climbed 10.44%, SK Hynix rose 10.02%, SanDisk advanced 17.24%, Western Digital gained 14.33%, Seagate Technology jumped 16.38%, and Kioxia ADR rose 10.95%. Microsoft’s rally extended to over 15%, poised for its biggest single-day gain since March 2020. After Wednesday’s US market close, Microsoft released its Q4 FY2026 financial results: revenue reached $90 billion, up 18% year-over-year. Growth for Azure and other cloud services accelerated to 43% from 40% in the previous quarter. ARM’s gains once widened to 19%, after it had fallen nearly 8% in pre-market trading earlier, marking its largest single-day jump since March 25. The company’s Q1 FY2027 revenue totaled $1.289 billion, up 22% year-over-year, setting a new first-quarter record.

According to BIT (bit.com) market data, Microsoft’s gains widened to over 15% after the U.S. stock market opened, putting it on track for its largest single-day gain since March 2020. The company released its fiscal 2026 fourth-quarter results after U.S. markets closed Wednesday, reporting revenue of $90 billion, an 18% year-over-year increase. Growth for Azure and other cloud services rose to 43% from 40% in the prior quarter. CEO Satya Nadella said Azure’s full fiscal year revenue exceeded $100 billion, growing 41%—marking the first time the business has crossed the $100 billion threshold.

According to market data from BIT (bit.com), most US-listed crypto-related stocks rose at the opening of the US stock session, with the following performance: Strategy (MSTR) up 1.25%; Coinbase (COIN) gained 0.60%; Circle (CRCL) down 0.15%; BitMine Immersion (BMNR) rose 1.66%; SharpLink Gaming (SBET) jumped 3.34%.

According to market data from BIT (bit.com), ARM’s gains expanded to 19% at one point after the U.S. stock market opened, following a nearly 8% drop in pre-market trading earlier. This marks its largest single-day gain since March 25.

The U.S. June PCE Price Index, released today, fell 0.1% month-over-month—the first monthly decline since the 2020 COVID-19 outbreak. Its year-over-year growth slowed to 3.7% from a three-year high of 4.1% in May. Core PCE rose just 0.1% month-over-month, with its year-over-year rate dropping to 3.3% from 3.4%, though it remained above the Federal Reserve’s 2% target for the sixth consecutive year. The cooling inflation was largely driven by falling oil prices following the temporary U.S.-Iran ceasefire. Consumer spending remained robust: inflation-adjusted consumer spending in June rose 0.4% month-over-month, matching the fastest pace since July 2025. The second quarter’s annualized GDP growth slowed to 1.5% from 2.1% in the first quarter, but domestic private final sales (excluding net exports, inventories, and government spending) jumped 3.9%—more than doubling the first-quarter figure and hitting its highest level since early 2023. Consumer spending, which makes up roughly two-thirds of the economy, surged from 0.5% to 3.2%. Low unemployment, tax cuts, and the AI investment boom have jointly supported household consumption and corporate capital expenditure. However, energy prices remain a key risk for the second half of the year: the average regular gasoline price in Q2 hit $4.22 per gallon, far above the sub-$3 level before the conflict, and oil prices have risen again this month. Consumer goods firms including Procter & Gamble have noted consumers are more price-sensitive. The day before the GDP report’s release, the Federal Reserve voted 9-3 to hold interest rates steady at 3.5% to 3.75%. Three regional Fed presidents dissented, pushing for a 25-basis-point rate hike. Waller said, “The economy is showing impressive resilience.” The expanding camp of rate-hike advocates underscores growing internal divisions within the Fed.