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U.S. stocks are set to open lower as futures slip ahead of the closely watched PCE inflation report, with investors bracing for fresh signals on the Fed’s next move.

Stock futures are easing ahead of the PCE inflation report, signaling a cautious start to the next session.
Geopolitical tensions remain a key market driver, with oil, stocks, and global shares reacting sharply to US-Iran developments and ceasefire fears.
Micron is drawing heavy attention as it approaches trillion-dollar status, with strong investor interest and favorable hedge fund positioning.
AI-related names continue to dominate headlines, including Snowflake, Marvell, Microsoft, Nebius, ByteDance, and Nvidia-linked developments.
Google faces scrutiny after federal claims that an employee used insider information to profit on Polymarket.
UBS is highlighting what investors should buy now even as the market trades near all-time highs, suggesting selective opportunity remains.
Insurance companies are aggressively buying back stock, but some analysts are questioning whether that capital use is wise.
Consumer and housing trends are mixed, with reports on affordable home-buying cities, mortgage rate outlooks, and a million missing new-car buyers.
Several earnings updates are moving stocks, including Snowflake’s jump after a beat and XPeng’s drop after weak deliveries and missed earnings.
Macro and policy stories round out the list, including Trump Accounts, daylight saving time changes, drug policy shifts, and concerns about long-term U.S. dollar weakness.

Hong Kong stocks fell sharply as the Hang Seng Index dropped 322 points to just above 25,000, dragged down by a more than 5% slump in Meituan.

The Chinese central government said it expects trade talks with the EU on steel tariffs to deliver a win-win outcome.
Boeing indicated that China’s order for 200 aircraft is only the first batch, with more orders expected later.
Hong Kong Exchanges and Clearing said the renovation of its headquarters is expected to finish in June 2027.
Cathay Pacific’s CEO said the company and HKEX are jointly supporting Hong Kong’s role as a gateway between Asia and the world.
HSBC Private Banking raised its year-end Hang Seng Index target to 28,000 and upgraded U.S. stocks to overweight.
Link REIT plans to restart its unit buyback program after recent weakness in sentiment.
Morgan Stanley said Kuaishou’s Kling AI performed strongly, but its core business remains weak.
Citi said Link REIT’s distribution per unit matched expectations and kept a neutral rating.
Li Auto reported a first-quarter non-GAAP loss of RMB 2.108 billion, reversing from profit, while also warning that second-quarter revenue could fall as much as 20%.
Eastmoney’s front-page reports highlighted strong industrial profits growth in China, with January-April industrial enterprise profits up 18.2% year on year, while AI, semiconductors, and domestic storage emerged as major investment themes.

Tokyo stocks fell 306 yen as profit-taking intensified in semiconductor-related shares, ending the market in the red.

Sonny Life Insurance said an employee had inappropriate financial transactions worth over 150 million yen with a customer and released the results of its investigation.
The Tokyo Stock Exchange fell, ending the day down 306 yen as investors took profits, especially in semiconductor-related shares.
The Bank of Korea kept its policy rate unchanged at 2.5% for the eighth straight meeting because uncertainty over Middle East tensions remained high.
Tokyo stocks moved back and forth, briefly dropping more than 500 yen, and were at 65,009 yen as of 10:00 a.m.
The yen traded in the upper 159-yen range in Tokyo, with inflation concerns driven by high crude oil prices prompting selling of the yen.
In New York, the yen stayed around the mid-159-yen range, with uncertainty over U.S.-Iran talks leading to mild yen selling.
U.S. stocks rebounded to a record high, rising 182 dollars as lower oil prices were welcomed and attention focused on the end of fighting between the U.S. and Iran.
New York crude oil kept falling and finished in the upper 80-dollar range as expectations grew that supply would recover after normal shipping resumed in the Strait of Hormuz.
The scope of support under the refundable tax credit has been set, but the benefit amount and funding source remain unresolved, leaving many issues still unfinished.
Japanese Paper will consolidate newspaper printing operations into three factories by fiscal 2030, while other companies and policy issues across trade, EVs, insurance, fishing fuel, and labor markets also reflect the effects of inflation, supply disruptions, and Middle East tensions.

Crypto markets fell sharply as geopolitical तनाव from U.S. strikes on Iran triggered over $1 billion in liquidations, dragging Bitcoin below $73,000 and deepening losses across major tokens.

The White House is reviewing a CFTC prediction-market rule as Trump pushes for stronger federal oversight.
Ether has fallen below $2,000 even as futures open interest climbs to a record 16 million ETH, showing rising leverage despite weak price action.
BlackRock’s bitcoin ETF recorded a $528 million outflow, marking the second-largest one-day withdrawal ever.
A fund manager warned Bitcoin could fall further as a major Treasury operation approaches, adding pressure to the market.
XRP declined 4% below $1.30 after heavy selling broke a key support level.
Bitcoin dropped below $73,000 after U.S. strikes on Iran triggered about $1 billion in liquidations across the market.
The U.S. CFTC asked to erase the Gemini settlement because it now believes the deal was not fair.
Federal authorities allege a Google engineer used insider access to trade search-related information on Polymarket.
The crypto industry’s political spending is increasingly shifting toward Republican candidates ahead of the midterm elections.
Wall Street gained a new crypto competitor after a Texas bank completed a regulatory transformation.

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