U.S. stocks closed: The Dow Jones fell more than 2%, and Micron Technology dropped nearly 10%.
According to BIT (bit.com) market data, US stocks rose then fell after the Federal Reserve announced its resolution. The Dow Jones initially closed down 2.18%, the S&P 500 dropped 1.5%, and the Nasdaq fell 1.7%. SK Hynix (SKHY.O) declined 2.6%, SanDisk (SNDK.O) fell 7%, Micron Technology (MU.O) dropped 9.9%, NVIDIA (NVDA.O) was down 3.5%, and Seagate Technology (STX.O) gained over 2%.
7 minutes ago
Microsoft’s Q4 revenue hits $90 billion, beating market expectations; its stock rises 8.5% in after-hours trading.
Microsoft (MSFT.O) reported Q4 FY2026 revenue of $90 billion, compared to $76.441 billion in the year-ago period and market expectations of $87.63 billion. Capital expenditures for the fourth fiscal quarter reached $41 billion, while cloud business revenue hit $59.3 billion. Azure and other cloud services revenue (excluding exchange rate impacts) rose 43% in Q4, beating estimates. Free cash flow for the fourth quarter was $19.6 billion, down 23%. Microsoft CEO Satya Nadella said: "Azure business revenue exceeded $100 billion for the first time, and paid seats for Microsoft 365 Copilot surpassed 30 million, reflecting that customers trust our ability to support their AI transformation." Microsoft's Azure cloud business generated $39.3 billion in revenue in Q4, growing 43% year-over-year, above the expected 40% growth. As of press time, Microsoft's U.S. stock rose 8.5% in after-hours trading, pushing its market capitalization to $2.90 trillion.
7 minutes ago
Meta Posts Record Revenue, But AI Costs Drag Stock Price Down Nearly 7%
Meta Platforms (META.O) reported record-high revenue in its second fiscal quarter, but updates to its AI spending plans sparked investor concerns over its infrastructure construction costs. The company slightly raised the lower end of its annual capital expenditure guidance from $125 billion to $130 billion, while keeping the upper limit unchanged at $145 billion. Its second-quarter revenue reached $60.8 billion, growing 28% year-over-year, though net profit of $15.8 billion missed analyst expectations. As a result, Meta’s after-hours stock price dropped by more than 6.8%. To catch up in the AI race, Meta has invested tens of billions of dollars in chip procurement, data center construction, and recruitment of top talent. Most recently, it partnered with BlackRock to secure at least $12 billion in financing for building a data center in Texas. Meta’s second-quarter free cash flow came in at $784 million.
7 minutes ago
Walsh declined to characterize the Federal Reserve as "holding steady", noting that markets have already reacted.
Fed Chair Walsh stated that since the June meeting, financial markets have already priced in most of the effects of the Federal Reserve's tightening policies, so he does not agree with describing the current decision to hold interest rates steady as a "pause". Walsh said: "I would not call today's decision a 'pause' in any sense. If one must label it a 'pause', then the performance of financial markets clearly shows the opposite." Since the Fed's mid-June policy meeting, both U.S. 2-year and 10-year Treasury yields have risen by around 20 basis points cumulatively. Walsh pointed out that during this period, financial markets did not "pause" their adjustments, but continuously repriced based on inflation data and economic growth performance: on one hand, inflation data has shaped market expectations; on the other hand, robust economic growth has pushed both nominal and real interest rates higher. He added: "It is true that the Fed did not explicitly adjust the policy rate today. But I believe this is just the beginning, not the end, of the entire policy narrative." (Jinshi)
7 minutes ago
Wash: Closely monitor market pricing but do not act based on it.
At a press conference, Fed Chair Waller explained why he had noted that financial markets, in the absence of central bank policy guidance, have already priced in expectations of tighter monetary policy. However, this does not mean the Federal Reserve must follow the pricing actions of traders and investors.
Waller said: "What I find reassuring is that between meetings, the market is not adjusting its pricing because of us, but is instead reflecting a tighter financial environment on its own. I think this is a welcome development." He added: "We do not endorse or support any specific market movement, but I would say we will be observing market developments with close attention." (Jinshi)
7 minutes ago
Trump: Iran has requested the U.S. not to launch an attack against it, and the U.S. will decide whether to reach an agreement with Iran based on the situation.
US President Trump said he will observe whether an agreement can be reached with Iran, adding that Iran has requested the United States not to launch an attack on it. However, Trump also emphasized that the US will take "severe strikes" against Iran when necessary. In addition, he stated that he has been briefed on relevant incidents in Egypt.
7 minutes ago