Micron Soars After AI-Fueled Forecast Shatters Estimates | The Opening Trade 6/25/2026

Summary

Micron's blowout AI-driven forecast reignited optimism in semiconductor stocks, sending Asian and US futures higher, while European markets opened mixed with tech outperforming. Oil prices fell to pre-conflict levels on oversupply concerns. PCE data and Fed rate hike expectations were in focus, with guests discussing bond opportunities, defensive rotations, and cybersecurity risks.

• Micron crushed estimates, boosting memory and broader AI chip stocks globally; ASML led European tech gains.
• Oil dropped sharply, reaching pre-war levels as the market priced out geopolitical risk and saw oversupply.
• The BNP Paribas FX strategist expected Fed rate hikes to resume in December, pushing the dollar higher vs yen and euro.
• Allspring's Lauren van Biljon saw value in intermediate UK gilts and US 2-5 year Treasuries due to fading energy inflation.
• BofA's Sebastian Raedler advised rotating into cheap European defensives (staples, pharma) as a hedge against an AI capex bubble.
• Cybersecurity CEO Yotam Segev highlighted the growing need for enterprises to invest in AI-specific security as agentic AI threats expand.
• H&M earnings missed expectations, continuing its struggle against faster, trendier rivals despite operational progress.
• EasyJet rejected a takeover bid but left the door open, while Getty Images surged on an AI licensing deal with OpenAI.