Dell surges in premarket trading after lifting annual revenue forecast
Dell jumped 9.4% in premarket trading on Wednesday after raising its annual revenue forecast after seeing strength in AI server sales.
Hewlett Packard also rose 5.5% before the market opened due to Dell’s earnings. Other companies moving in premarket on earnings included Palo Alto Networks, which fell 1.7%. GitLab also surged 20% on second-quarter results.
— Sawdah Bhaimiya
Asia-Pacific markets close lower as Mideast tensions dent sentiment
Japan’s Nikkei 225 closed 2.85% lower at 64,325.64, while South Korea’s Kospi fell 4% to 6,562.72.
Australia’s benchmark S&P/ASX 200 dropped 0.97% to 8,978.40.
Hong Kong’s Hang Seng index was down 0.24% as of its last hour of trading, while mainland China’s CSI 300 closed 1.38% lower at 4,547.96.
—Justina Lee
European stock markets slide in early trade
Europe’s benchmark Stoxx 600 index was trading below the flatline around 8:10 a.m. in London (3:10 a.m. E.T.), reversing its opening gain, as most major continental bourses and regional sectors started Wednesday’s session in the red.
Media stocks led losses, sliding 1.4% in morning dealmaking, followed by European automakers and parts names, which slipped 1.2%.
The Italian FTSE MIB was up 0.2% in Milan, but other regional indexes edged lower.
In Frankfurt, Germany’s DAX began the session 0.2% down, while in London the U.K.’s FTSE 100 also dipped about 0.1%. In Paris, the French CAC 40 was just below the flatline.
Global bond sell off deepens
Global bond yields continued to tick higher as concerns over spiraling government debt and renewed Middle East tensions continue to weigh on investors following Tuesday’s sharp sell-off.
The yield on the 10-year U.S. Treasury note was more than 1 basis point higher at 4.8102%, touching its highest level since November 2023, while the 30-year Treasury yield rose 2 basis points to 5.2878%.
The yield on U.K. 10-year Gilts, the benchmark for British government debt, was last seen more than 4 basis points higher at 5.2660%, while the longer-dated 30-year Gilt yield was flat at 5.8537%.
In Germany, 10-year Bund yields — seen as a barometer for euro zone borrowing — were up more than 3 basis points in early trade Wednesday at 3.3759%. The 30-year Bund yield was also up more than 3 basis points at 3.8468%, nearing their highest level since 1998.
Yields on Japan’s benchmark 10-year government bonds remain above 3%.
—Hugh Leask
Nokia set to rejoin Stoxx 50 — with Volkswagen dropping out
Nokia signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, March 11, 2025.
Michael Nagle | Bloomberg | Getty Images
Nokia is set to rejoin the Stoxx 50 later this month, with Volkswagen likely to lose its place in Europe’s blue chip index.
Shares in the Finnish telecoms company hit an 18-year high in June, after doubling on the year.
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Nokia.
VW, meanwhile, has slumped 30% year-to-date as the German auto giant grapples with fierce competition from China and a major restructuring. It comes as the carmaker unveiled plans to end production at four plants in Germany between 2031 and 2034.
— Hugh Leask
European markets set to start Wednesday’s session in the red
Visitors shelter from the rain with umbrellas on the Parvis des Droits de l’Homme on Esplanade du Tocadero across from the Eiffel Tower, as remnants of hurricane Kirk cause heavy rainfall over Paris, on October 9, 2024.
Ludovic Marin | Afp | Getty Images
Stoxx 50 futures were 0.51% lower ahead of Wednesday’s opening bell, with all of the continent’s main bourses seen in negative territory, as global energy prices continued to rise following fresh U.S. strikes on Iran.
The French CAC 40 was down 0.29% in premarket trading, while in the U.K. the FTSE 100 is seen opening 0.45% lower. The Italian FTSE MIB was expected to open down 0.51%, and Germany’s DAX is set to start the day 0.58% lower.
—Hugh Leask
Oil rises following tit-for-tat strikes by the U.S. and Iran
Oil rose Wednesday, as Mideast tensions continue to escalate after the U.S. carried out its latest round of attacks on Iran, while Tehran reportedly struck back at U.S. allies.
Futures for international benchmark Brent crude for November delivery advanced 0.92% at $95.52 a barrel, paring earlier gains. U.S. West Texas Intermediate futures for October rose 0.60% to $90.76 per barrel.
“The longer the war with Iran goes on, oil prices will continue to stay elevated and volatile,” said Edward Rosenberg, head of ETFs at Strategy Shares. “Sanctions, stalled negotiations, and mixed signals on whether Iran wants the war to end are swinging prices day to day, not just holding them high.”
—Justina Lee
Japanese green tea giant Ito En surges 8%, defying a broad market sell-off
Shares of Japanese beverage maker Ito En surged more than 8% Wednesday, following its fiscal first-quarter results, bucking a broader drop in the country’s stocks.
The maker of Oi Ocha green tea on Tuesday reported operating profit of 10.2 billion yen ($63.7 million) for the three months from May through July, up 22% from a year earlier. Revenue rose 3.3% to 135.18 billion yen over the same period.
Operating profit came in well above Citi’s forecast of 7.7 billion yen. The bank had expected profit to decline on the back of higher raw material and tea leaf costs, as well as expenses related to the company’s vending machine business.
—Jenny Lee
Australia posts second-quarter growth of 2.1%, beating expectations
Australia’s economic growth beat expectations in the second quarter, expanding 2.1% year on year, data released Wednesday showed.
Economists polled by Reuters had estimated growth at 1.8%, while the economy had expanded by 2.5% in the prior quarter.
On a quarter-on-quarter basis, GDP rose 0.4%, also marginally surpassing expectations of 0.3%. The slight growth was driven by private demand and mining exports.
The Australian Bureau of Statistics said in its statement that households continued to behave cautiously, with spending remaining subdued and rising just 0.4%. Households reduced fuel consumption due to elevated prices owed to the Middle East conflict, and cut domestic and international travel.
—Lim Hui Jie
Mainland China and Hong Kong benchmark indexes open lower
Mainland China and Hong Kong indexes opened lower as Asian markets saw a broad decline.
Hong Kong’s Hang Seng index was down 1.09%, while mainland China’s CSI 300 dropped nearly 1%.
The declines in Hang Seng were led by basic materials and industrials sectors, down 3.74% and 3.19%, respectively.
—Justina Lee
Asia-Pacific markets open lower, tracking Wall Street losses
Asia-Pacific markets traded lower early Wednesday, amid concerns over elevated oil prices and higher bond yields and escalating Middle East tensions.
Japan’s Nikkei 225 declined 1.60% while the Topix dropped 1.44%.
The Kospi fell 2.87% at open, while the small-cap Kosdaq declined 2.51%.
Australia’s benchmark S&P/ASX 200 was 1.09% lower.
—Justina Lee
Asia-Pacific markets set to open lower as Mideast tensions, higher bond yields dent sentiment
Asia-Pacific markets were set to open broadly lower Wednesday, tracking Wall Street losses amid worries over escalating Middle East tensions, elevated oil prices and higher bond yields.
Japan’s Nikkei 225 was poised to decline, with the Chicago futures contract at 64,845 and its Osaka counterpart last trading at 64,880, compared with the index’s previous close of 66,215.34.
Hong Kong Hang Seng index futures were at 25,176, compared with the index’s last close of 25,329.73.
Futures for Australia’s S&P/ASX 200 last traded at 8,933, while the index closed at 9,066.70.
Tensions between Iran and the U.S. continue to escalate, after the U.S. carried out its latest round of attacks on Iran.
The U.S. Central Command said in a X post, the strikes “follow recent attempted attacks by the IRGC against commercial shipping in the Strait of Hormuz and against American service members.”
A tanker was struck by three unknown projectiles while transiting Hormuz on Monday, the U.K. Maritime Trade Operations Centre said in an incident report
—Justina Lee
See the stocks moving after hours
These are some of the stocks moving after hours:
Dell Technologies — Shares of the computer maker jumped almost 9% after beating expectations on both lines. Dell also lifted its forecast for the fiscal 2027 year, citing strength in the artificial intelligence service business.MongoDB — The data developer shares dropped 12% despite posting better-than-expected earnings and upbeat guidance. MongoDB said it earned $1.90 per share, excluding items, on $772 million in the second quarter, while analysts surveyed by LSEG forecasted $1.61 a share and $734 million.Credo Technology — Shares of the connectivity stock slid almost 4% after its non-GAAP gross margin for the first quarter came in at 68%, while analysts polled by LSEG penciled in 68.3%. However, Credo beat expectations on both lines for the first quarter.
— Alex Harring
Stock futures are near flat
Futures tied to the Dow, S&P 500 and Nasdaq 100 are all near flat shortly after 6 p.m. ET Tuesday.
— Alex Harring