Chipmaker Gains Drive Global Market Rally

Micron’s commitment to invest $22 billion in memory chip production, paired with Qualcomm’s ambitious $15 billion revenue target for its data center business by 2029, provided the catalyst for the rally. Premarket trading reflected this optimism, with Micron shares jumping 17% and Qualcomm climbing 12%. The momentum cascaded into Asian markets, where Japan’s Nikkei rose 4.6% and South Korea’s KOSPI gained 5.4%.

Simultaneously, energy markets shifted as peace negotiations eased concerns over supply routes in the Strait of Hormuz. Brent crude futures slipped 0.7% to $73.2 per barrel, erasing recent gains tied to geopolitical instability. Despite the dip in oil and declining Treasury yields, the dollar held its ground, remaining near a one-year peak against a basket of major currencies.