📈 Stocks / Finance

Micron Surges on Strong Data-Center Demand and Earnings Beat

Investor’s Business Daily

Micron beat Q2 estimates with $1.56 EPS on $8.05B revenue, driven by a 3x increase in data-center sales. The company projects Q3 earnings of $1.57 on $8.8B revenue, above Wall Street expectations. DRAM and NAND demand, fueled by AI, pushed Micron shares up 5% in after-hours trading.

IonQ Stock Falls 9% as Nvidia Enters Quantum Computing

The Motley Fool

IonQ shares dropped 9.3% after Nvidia announced plans to open a quantum computing research lab in Boston, collaborating with Harvard and MIT. Investors fear Nvidia's entry could threaten IonQ’s position in the sector. The move follows CEO Jensen Huang reversing his prior skepticism on quantum computing's near-term viability.

Wall Street layoffs begin amid growing economic uncertainty

Yahoo Finance

Major banks including Morgan Stanley, Goldman Sachs, and BofA have begun job cuts, citing efficiency and performance. Morgan Stanley plans 2,000 cuts, Goldman up to 5%, and BofA has already trimmed 1% of global banking staff. Broader economic concerns and trade policy uncertainty add pressure.

🪙 Crypto

Trump speech disappoints as crypto market holds steady

FX Street

Bitcoin dipped to $85.2K after peaking at $87.4K, despite $527M in ETF inflows over four days. XRP jumped 6.5% after the SEC dropped charges against Ripple. Trump’s Digital Asset Summit speech lacked fresh policy, stalling a rally. Liquidations hit $335M, mostly shorts.

🌎 Global Economy

OECD debt costs hit 17-year high, surpassing defense and housing spend

The Guardian

Debt servicing costs in OECD (Organization for Economic Co-operation and Development) nations rose to 3.3% of GDP in 2024, topping defense (2.2%) and housing (0.7%) budgets. Total OECD government debt hit $55T, with the US alone responsible for over two-thirds of new borrowing. Refinancing risks loom as rates stay elevated.