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June 25th - All major U.S. banks passed the Federal Reserve's annual stress test, paving the way for billions of dollars in stock buybacks and dividends. This stress test assesses how Wall Street lenders would respond to hypothetical financial system shocks. Unlike previous years, the 2026 test results will not affect capital requirements, as the Federal Reserve continues to revise the test to make it more bank-friendly. This year's test assessed how 32 large lenders would withstand severe global shocks under greater pressure in the commercial and residential real estate markets and corporate debt markets. Hypothetical scenarios included a severe global recession, a 39% drop in commercial real estate prices, and a 30% drop in residential prices. Unemployment would also surge to a peak of 10%, with a corresponding decline in economic output. Regulators stated, "Despite absorbing over $708 billion in loan losses under this year's hypothetical scenario, total capital decreased by only 1.6 percentage points, remaining above the minimum capital requirements."

June 25 - Micron Technology (MU.O) shares surged nearly 14% in after-hours trading, boosted by strong earnings. Other US chip stocks followed suit, with Marvell Technology (MRVL.O) up over 4%, Intel (INTC.O) up over 3%, ASML (ASML.O) up nearly 4%, Seagate Technology (STX.O) up 9%, and Qualcomm (QCOM.O) up 6%.

Micron Technology will hold its Q3 FY2026 earnings call in ten minutes.

Micron Technology (MU.O) on Wednesday predicted fourth-quarter revenue that would exceed Wall Street expectations, indicating that strong demand for AI-related infrastructure will continue to drive robust demand for its memory chips. The company's stock rose nearly 10% in after-hours trading. Micron expects fourth-quarter revenue of $50 billion (plus or minus $1 billion), while analysts' average estimate is $43.58 billion. This result and forecast suggest that the explosive growth of generative AI has made products like HBM key components in large data centers, driving up prices. The company's quarterly report also showed third-quarter revenue of $41.4 billion, far exceeding market expectations of $35.4 billion. Micron CEO Sanjay stated, "Micron Technology's record third-quarter financial results and stronger outlook for the fourth quarter reflect the strategic value of memory chips in the AI era. We believe our multi-year strategic customer agreements will significantly enhance the sustainability and predictability of Micron's strong financial performance." Micron's third-quarter report showed a profit of $28.24 billion, or $24.67 per share, compared to $1.89 billion, or $1.68 per share, in the same period last year. Excluding certain one-time items, Micron reported adjusted earnings per share of $25.11, while analysts had expected $20.86 per share.

Micron Technology (MU.O) has set a revenue outlook of $50 billion for its fourth fiscal quarter, compared to market expectations of $42.915 billion.

Micron Technology (MU.O) reported revenue of $41.456 billion for Q3 of fiscal year 2026, compared to market expectations of $35.423 billion and $9.301 billion in the same period last year.

The Federal Reserve will release the results of its annual bank stress tests in ten minutes; Bank of Japan Governor Kazuo Ueda will attend an event in ten minutes.