Equity markets have shown signs of stabilization following recent declines in major technology stocks, with Nasdaq 100 futures recovering after a sharp drop. Investor focus is now concentrated on Micron's upcoming earnings report, which is seen as a crucial indicator of the broader AI sector's health and whether current market valuations are justified. This development has paused the recent tech sell-off, providing some relief to the market.
Meanwhile, northwest Europe is experiencing a severe heat wave that is affecting daily activities and challenging existing temperature records. On the geopolitical side, former President Donald Trump outlined the terms for releasing frozen Iranian funds, specifying that the money will be restricted to purchasing US-sourced food and medical supplies. This move aims to address domestic concerns while maintaining ongoing diplomatic talks, which both parties suggest are making progress.