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Asia Markets

Update: US Equity Futures Rise Pre-Bell After US Says Strikes Completed Against Iran

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as the US said it completed attacks against Iran after another round of "self-defense strikes."Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.The strikes, which started after a US Army Apache helicopter was shot down on Wednesday, were conducted at the direction of President Donald Trump, US Central Command said in an X post. Iran responded with attacks on Kuwait and Bahrain, while Israel warned of launches from Lebanon.Trump later told Fox News that he had spoken directly with Iranian officials, who had asked him to stop bombing.Traders watched the latest round of earnings, with Oracle (ORCL) posting higher fiscal Q4 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $93.52 per barrel and US West Texas Intermediate crude 0.7% higher at $90.66 per barrel.The US Producer Price Index, released at 8:30 am ET, rose by 1.1% in May following a similar increase in April, above the 0.7% gain expected in a survey compiled by Bloomberg. The weekly jobless claims bulletin showed 229,000 new unemployment claims for the week ended June 6, compared with the 225,000 in the prior week and above the 220,000 expected.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Oracle stock was down 11% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Alibaba (BABA) and JD.com (JD) shares fell 4.5% and 2.3%, respectively, following media reports of complaints by Chinese regulators over allegedly misleading promotions.On the winning side, Tesla's (TSLA) stock was up 0.9% after Belgian government official Annick De Ridder said that the company's full self-driving technology has been approved in the country. Applied Materials (AMAT) shares rose 4.2% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand. Novartis (NVS) stock was up 2.4% after the company said the phase I/II study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$JD$NVS$ORCL$TSLA
Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) retreating 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.8%.Tesla (TSLA) shares were up more than 1% pre-bell after Annick De Ridder, the Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.Alibaba (BABA) shares fell more than 4% after Bloomberg reported that the company has replaced the head of its AI-chat app, Dingtalk, in a leadership change after an insider debate regarding the productivity platform's role in the broader AI strategy of the e-commerce colossus.McGraw Hill (MH) stock declined more than 6% premarket after the company reported lower fiscal Q4 revenue.

$BABA$MH$TSLA$XLP$XLY
Wire

Market Chatter: Ant Group's Global Unit Weighs $1 Billion Fundraising

Alibaba Group (BABA) co-founder Jack Ma-backed Ant Group's international unit is exploring raising approximately $1 billion in fresh capital, Bloomberg reported Wednesday, citing people familiar with the matter.The funding round could value Ant International at $10 billion or more and potentially pave the way for a Hong Kong listing as soon as this year, the report said.The unit has reportedly sounded out interest from investors including General Atlantic and Silver Lake, according to the report.Ant International did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $115.96, Change: $-3.74, Percent Change: -3.12%

$BABA
Wire

Alibaba, Baidu Named Among 'Chinese Military Companies,' Department of Defense Notice Shows

Alibaba Group (BABA) and Baidu (BIDU) are among the list of entities that are designated as "Chinese military companies," according to a Department of Defense notice filed on Monday to be published in the Federal Register.The annual list includes several firms such as Huawei Technologies, BYD, Tencent and TP-Link, according to the document.The listed companies may request reconsideration of this decision by submitting evidence to the Pentagon that they should be removed from the list, the notice said.Alibaba and Baidu did not immediately respond to request for comments from.Price: $120.10, Change: $-0.96, Percent Change: -0.79%

$BABA$BIDU
Wire

Street Color: Alibaba, Baidu Among Firms Designated as Chinese Military Companies, Pentagon Says

Street Color: Alibaba, Baidu Among Firms Designated as Chinese Military Companies, Pentagon Says

$BABA$BIDU
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Tuesday Trading

Asian equities traded in the US as American depositary receipts were rising sharply Tuesday morning, up 1.04% to 2,925.23 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by semiconductor companies Himax Technologies (HIMX) and Silicon Motion Technology (SIMO), which climbed 13% and 5.7% respectively. They were followed by internet and data center services provider VNET Group (VNET) and tech company Alibaba Group (BABA), which advanced 5.1% and 4.6% respectively.The decliners from North Asia were led by education company 17 Education & Technology Group (YQ) and online brokerage UP Fintech (TIGR), which dropped 7.4% and 7% respectively. They were followed by mobile big data platform Aurora Mobile (JG) and real estate management and digital security company Eason Technology (DXF), which lost 6.5% and 3.9% respectively.From South Asia, the gainers were led by fintech firm Trident Digital Tech (TDTH) and lender HDFC Bank (HDB), which rose 7.6% and 0.5% respectively. They were followed by telecommunications operator PLDT (PHI) and IT firm Sify Technologies (SIFY), which were up 0.2% and 0.1% respectively.The decliners from South Asia were led by IT firms Wipro (WIT) and Infosys (INFY), which fell 6.9% and 2.1% respectively. They were followed by computer hardware maker Canaan (CAN) and tech conglomerate Sea (SE), which were down 2% and 1.5% respectively.

$BABA$CAN$DXF$HDB$HIMX$INFY$JG$PHI$SE$SIFY$SIMO$TDTH$TIGR$VNET$WIT$YQ
Wire

Market Chatter: Alibaba, DeepSeek Top AI Professionals Face Overseas Travel Limits Imposed by China

Alibaba Group (BABA), DeepSeek, and other private technology enterprises are seeing their leading artificial intelligence experts face new overseas travel limits implemented by China, Bloomberg reported Tuesday, citing people familiar with the matter.Government authorities now require personnel involved in critical AI development to secure official clearance prior to leaving the country, the news outlet added.The implementation introduces potential recruitment and retention risks for domestic AI companies already navigating heightened state involvement following Beijing's push for Meta Platforms (META) to unwind its $2 billion purchase of Manus, the report added.Alibaba, DeepSeek, Meta Platforms, and China's Ministry of Industry and Information Technology did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $129.29, Change: $-0.72, Percent Change: -0.55%

$BABA
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Track Lower in Thursday Trading

Asian equities traded in the US as American depositary receipts were trending lower Thursday morning, declining 0.94% to 2,836.35 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by video display maker LG Display (LPL) and real estate and digital security company Eason Technology (DXF), which advanced 12% and 6.5% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and utilities company Korea Electric Power (KEP), which rose 2.5% and 1.2% respectively.The decliners from North Asia were led by internet and data center services provider VNET Group (VNET) and online entertainment company Bilibili (BILI), which dropped 5.5% and 4.4% respectively. They were followed by tech companies Alibaba Group (BABA) and Baidu (BIDU), which lost 3.8% and 3.2% respectively.There were no gainers from South Asia.The decliners from South Asia were led by IT firm Infosys (INFY) and telecommunications operator Telekomunikasi Indonesia (TLK), which fell 3.8% and 2.8% respectively. They were followed by computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which were off 0.9% and 0.5% respectively.

$BABA$BIDU$BILI$CAN$DXF$HIMX$INFY$KEP$LPL$SIFY$TLK$VNET
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Modestly Lower in Tuesday Trading

Asian equities traded in the US as American depositary receipts were tracking modestly lower Tuesday morning, declining 0.30% to 2,817.60 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by online game developer The9 (NCTY) and lender Sumitomo Mitsui Financial Group (SMFG), which rose 2.3% and 2.1% respectively. They were followed by tech company Alibaba Group (BABA) and online retailer JD.com (JD), which advanced 1.9% and 1.8% respectively.The decliners from North Asia were led by real estate and digital tech company Eason Technology (DXF) and video display maker LG Display (LPL), which shed 15% and 5.8% respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and semiconductor company ASE Technology (ASX), which were down 4% and 3.5% respectively.From South Asia, the gainers were led by IT firm Infosys (INFY), which increased 2.5%, followed by IT company Wipro (WIT) and tech conglomerate Sea (SE), which were up 0.8% and 0.1% respectively.The decliners from South Asia were led by computer hardware maker Canaan (CAN) and fintech firm Trident Digital Tech (TDTH), which dropped 12% and 7.1% respectively. They were followed by lender ICICI Bank (IBN) and IT company Sify Technologies (SIFY), which lost 1.8% and 1.5% respectively.

$ASX$BABA$CAN$CMCM$DXF$IBN$INFY$JD$LPL$NCTY$SE$SIFY$SMFG$TDTH$WIT
Research

Research Alert: CFRA Maintains Buy Recommendation On Shares Of Alibaba Group Holding Limited

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lift our 12-month target to USD184 from USD163, on a P/E of about 15x (unchanged) our FY 28 (Mar.) EPS of USD12.26 (based on current FX), which is within its long-term range. We trim our FY 27 EPS to CNY53.65 from CNY 56.81 but raise FY 28 to CNY83.23 from CNY74.64. We expect cloud revenue growth to accelerate from roughly 40% in the latest quarter to 47% in FY 27, fueled by AI-related revenue, which currently accounts for about 30% of the cloud business and should rise to 50% within the next year. We also expect BABA to see a meaningful profit inflection over the next several years as losses in quick commerce narrow substantially and AI-related investments become increasingly monetized. Cloud margins were just 9% this past fiscal year but should improve materially over the coming quarters, particularly as the high-margin MaaS (model-as-a-service) business scales. We continue to view BABA shares as the most compelling way to gain exposure to the AI theme in China.

$BABA
Wire

Update: Morgan Stanley Lifts Price Target on Alibaba to $190 From $180, Maintains Overweight Rating

(Updates with Morgan Stanley's commentary.)Morgan Stanley raised its price target on Alibaba (BABA) to $190 From $180 while keeping its overweight rating.The brokerage said Alibaba subsidiary Alicloud "delivered on all key matrices" it tests and the tech firm showed "rapid AI [artificial intelligence] product revenue growth."External Alicloud revenue increased 44% in fiscal Q1 2027 and Alibaba expects the unit's margin to increase to 11% in fiscal Q1 2027, Morgan Stanley said in its note.Alibaba has an average rating of buy and mean price target of $191.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $142.96, Change: $-2.85, Percent Change: -1.95%

$BABA
Wire

Top Midday Stories: Cisco Shares Soar as Guidance Tops Consensus; Alibaba, JD Reportedly Cleared to Buy Nvidia H200 AI Chips

All three major US stock indexes were up in late-morning trading Thursday, as investors monitor news emanating from President Donald Trump's meeting with Chinese President Xi Jinping in Beijing.In company news, Cisco Systems (CSCO) reported fiscal Q3 adjusted earnings late Wednesday of $1.06 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.03. Fiscal Q3 revenue was $15.8 billion, up from $14.1 billion a year ago and above the FactSet consensus of $15.6 billion. For fiscal Q4, Cisco said it expects Q4 adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion. Analysts polled by FactSet expect $1.08 and $15.8 billion, respectively. Cisco shares were up 15.0% around midday.Alibaba (BABA) and JD.com (JD) are among the roughly 10 Chinese companies that have secured US clearance to buy Nvidia's (NVDA) H200 artificial intelligence chips, though no deliveries have been made yet, Reuters reported Thursday, citing three people familiar with the matter. Alibaba and JD shares were down 1.9% and 2.1%, respectively. Nvidia shares were up 4.6%.Chinese President Xi Jinping told the chief executives of Apple (AAPL), Tesla (TSLA), Nvidia and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Apple shares were up 0.1%, while Tesla shares were up 0.8%.Biogen (BIIB) said Thursday that a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at Week 76. Biogen shares were down 5.0%.Price: $117.40, Change: $+15.53, Percent Change: +15.24%

$AAPL$BABA$BIIB$CSCO$JD$NVDA$TSLA
Wire

Morgan Stanley Adjusts Price Target on Alibaba to $190 From $180, Maintains Overweight Rating

Alibaba Group (BABA) has an average rating of buy and mean price target of $191.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $142.94, Change: $-2.87, Percent Change: -1.97%

$BABA
Asia Markets

US Equity Futures Rise Pre-Bell After S&P 500, Nasdaq Set New Highs Amid US-China Meeting

US equity futures were rising pre-bell Thursday as technology stocks drove new record highs for the S&P 500 and the Nasdaq Composite while traders kept a close eye on the high-stakes meeting between US President Donald Trump and Chinese leader Xi Jinping.Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.On Wednesday, the S&P 500 advanced nearly 0.6% to close at 7,444.25, while the Nasdaq Composite rose 1.2% to end at 26,402.34, with both setting new closing records. Cisco Systems (CSCO) shares were up 15% after the company posted higher fiscal Q3 results and announced restructuring plans that included lay-offs of nearly 4,000 employees.At the start of a two-day summit, Xi told Trump that US-China trade talks were progressing positively, but warned that disagreement over Taiwan could lead to a dangerous situation and even cause conflict.Traders also mulled the latest round of earnings, with Brookfield (BN) reporting higher Q1 distributable earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $104.90 per barrel and US West Texas Intermediate crude 0.7% lower at $100.33 per barrel.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in survey of analysts compiled by Bloomberg.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 1.5% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, Nvidia (NDA), Applied Materials (AMAT), and Marvell Technology (MRVL) joined Cisco in an upswing of technology stocks that lifted the market. Nvidia stock was up 2.1%, Applied Materials shares rose 1.9%, and Marvell stock was up 2.8%.On the losing side, Alibaba (BABA) and JD.com (JD) shares were down 3.1% and 1.7%, respectively, after a Reuters report said that they were among the roughly 10 Chinese companies that have secured US clearance to purchase Nvidia's H200 artificial intelligence chip, without a single delivery being made so far.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CSCO$JD$MRVL$NVDA
Wire

Top Midday Gainers

B. Riley adjusted its price target on Vishay Precision Group (VPG) to $109 from $63 while maintaining the stock's buy rating.Shares advanced 18%, with intraday trading volume at over 846,000 from a daily average of about 248,000.Bank of America raised its price target on Coherent (COHR) to $400 from $365, while keeping its neutral rating.Shares advanced 10% as intraday trading volume stood at 4.67 million, compared with a daily average of about 7.58 million.Alibaba (BABA) shares rose 8% amid heavy trading after the company reported a year-over-year jump in fiscal Q4 revenue on Wednesday.More than 30.0 million shares traded intraday compared with a daily average of about 10.5 million.Price: $101.06, Change: $+15.49, Percent Change: +18.10%

$BABA$COHR$VPG
Wire

Top Midday Stories: Overall, Core PPI in April Hit Highest Levels Since December 2022; Alibaba Misses Fiscal Q4 Earnings, Revenue Estimates

The Dow Jones Industrial Average was down, while the Nasdaq Composite and the S&P 500 Index were up in late-morning trading Wednesday after another hotter-than-expected inflation report and as President Donald Trump prepares for his summit with Chinese President Xi Jinping.The US Producer Price Index rose by 1.4% in April, well above the 0.5% gain expected in a survey compiled by Bloomberg as of 7:35 a.m. ET and up from a 0.7% gain in March. Excluding food and energy prices, core PPI rose by 1.0%, well above the 0.3% gain expected and up from the 0.2% gain in March. Year over year, the PPI rose 6.0% in April, while core PPI rose by 5.2%, both well above their respective March rates and the strongest readings since December 2022.Alibaba Group (BABA) reported fiscal Q4 adjusted earnings Wednesday of 0.62 Chinese renminbi ($0.09) per diluted American depositary share, down from 12.52 renminbi a year earlier and below the FactSet consensus estimate of 6.14 renminbi. Fiscal Q4 revenue was 243.38 billion renminbi, up from 236.45 billion renminbi a year earlier but below the FactSet consensus of 246.97 billion renminbi. Alibaba shares were up 7.9% around midday.Nvidia (NVDA) Chief Executive Jensen Huang joined President Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China, Reuters reported Wednesday. Nvidia shares were up 2.5%.Nebius Group (NBIS) reported Q1 earnings Wednesday of $2.11 per diluted share, swinging from a loss of $0.48 a year earlier and above the FactSet consensus for a loss of $0.83. First-quarter revenue was $399 million, up from $50.9 million a year ago and above the FactSet consensus of $375.1 million. Nebius shares were up more than 15%.Wix.com (WIX) reported Q1 adjusted earnings Wednesday of $0.68 per diluted share, down from $1.55 a year earlier and below the FactSet consensus of $1.24. First-quarter revenue was $541.2 million, up from $473.7 million a year ago but below the FactSet consensus of $544 million. For Q2 and full-year 2026, the company said it expects revenue to grow at a mid-teen percentage. Wix shares were down 30.2%.JPMorgan Chase (JPM) has appointed global head of investment banking coverage Dorothee Blessing, global head of capital markets Kevin Foley and financial institutions group co-head Jared Kaye as co-heads of global investment banking, according to media reports. JPMorgan shares were down 1.2%.Walmart (WMT) will fire or relocate about 1,000 corporate workers, The Wall street Journal reported late Tuesday, citing people familiar with the matter and a memo sent to staff it viewed. Walmart shares were flat.Price: $145.45, Change: $+10.67, Percent Change: +7.92%

$BABA$JPM$NBIS$NVDA$WIX$WMT
Wire

Update: Alibaba Shares Up After Fiscal Q4 Revenue Rises

(Updates with stock movement in the headline and the first paragraph.)Alibaba Group Holding (BABA) shares were up 6.5% in Wednesday trading after the company reported revenue that was higher than a year earlier.The company reported fiscal Q4 adjusted earnings of 0.62 Chinese renminbi ($0.09) per diluted American depositary share, down from 12.52 renminbi a year earlier.Analysts surveyed by FactSet expected 6.14 renminbi.Revenue for the quarter ended March 31 was 243.38 billion renminbi, up from 236.45 billion renminbi a year earlier.Analysts polled by FactSet expected 246.97 billion renminbi.Price: $143.64, Change: $+8.86, Percent Change: +6.57%

$BABA
Sectors

Sector Update: Consumer Stocks Decline Premarket Wednesday

Consumer stocks were declining premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.Alibaba (BABA) shares were down more than 2% after the company reported fiscal Q4 adjusted earnings and revenue that missed analysts' expectations, with adjusted earnings declining year on year.Birkenstock (BIRK) stock was down more than 6% after the company reported fiscal Q2 adjusted earnings and revenue that missed analysts' estimates.Global-e Online (GLBE) shares were up 4.7% after the company posted higher Q1 non-GAAP earnings and revenue, and raised its 2026 revenue outlook.

$BABA$BIRK$GLBE$XLP$XLY
Sectors

Sector Update: Consumer

Consumer stocks were declining premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.Alibaba Group Holding (BABA) shares were down more than 2% after the company reported fiscal Q4 adjusted earnings and revenue that missed analysts' expectations, with adjusted earnings declining year on year.

$BABA
Asia Markets

US Equity Futures Mixed Pre-Bell as Nvidia Stock Rises Ahead of Crucial US-China Meeting

US equity futures were mixed pre-bell Wednesday as Nvidia (NVDA) stock rose ahead of a globally significant meeting between the US and China to discuss key economic and geopolitical issues.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.7% higher.Nvidia shares were up nearly 2% after President Donald Trump confirmed in a post on Truth Social that Nvidia Chief Executive Jensen Huang is accompanying him on his visit to Beijing, raising expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China. Also mentioned in the post were Tesla (TSLA) CEO Elon Musk and Tim Cook of Apple (AAPL), among others.Traders took note of the latest round of earnings. Alibaba Group (BABA) reported lower fiscal Q4 adjusted earnings and higher revenue, while Nebius Group (NBIS) posted a swing to Q1 earnings and higher revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $107.95 per barrel and US West Texas Intermediate crude 0.2% higher at $102.42 per barrel.The US Producer Price Index rose by 1.4% in April following a 0.7% gain in March, well above the 0.5% gain expected in a survey compiled by Bloomberg as of 7:35 am ET.Federal Reserve Boston President Susan Collins, Minneapolis President Neel Kashkari, and Dallas President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 0.8% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, chipmakers Micron Technology (MU), AMD (AMD), and Intel (INTC) shares were up 5%, 1.2%, and 2.4%, respectively, on traders' optimism regarding the meeting between Trump and Chinese President Xi Jinping. Nebius stock was up 15% after the company posted its Q1 financial results.On the losing side, American Electric Power (AEP) stock was down 3.6% after the company priced a public offering of roughly 20.5 million common shares at $127 each. Alibaba shares were down 2.4% after the company reported its fiscal Q4 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AEP$AMD$BABA$INTC$MU$NBIS$NVDA$TSLA

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