
Oil prices slipped closer to where they were before the war with Iran began.
Qualcomm’s share price surged nearly 7% in afterhours trading after the company announced it had raised its forecast for revenue this year to $40 billion from $22 billion. It also announced a new computer chip for data centers called Dragonfly C1000 CPU that Meta plans to use.
Micron Technology’s shares jumped 18.5% in afterhours trading after it upgraded its forecast and exceeded analysts’ estimates.
The future for the S&P 500 gained 0.8%, while that for the Dow Jones Industrial Average edged 0.1% higher.
Germany’s DAX advanced 0.5% to 24,859.99. The CAC 40 in Paris was up 0.2% to 8,398.21 and Britain’s FTSE 100 added 0.1% to 10,473.69.
In Asian trading, Tokyo’s Nikkei 225 index surged 4.6% to a record close of 72,366.34 as traders snapped up shares in technology companies. Chipmaker Tokyo Electron’s shares gained 7.8%, while chip testing equipment maker Advantest’s shares soared 15%.
South Korea’s benchmark, the Kospi, hit a new record, surging 5.4% to 8,930.30 after briefly topping 9,000. Samsung Electronics’ shares gained 5.3% and SK Hynix leaped 13%.
Elsewhere in Asia, gains were more modest.
Taiwan’s Taiex climbed 0.5% and the Sensex in India was up 0.7%.
The Shanghai Composite index picked up 0.2% to 4,120.28, while Hong Kong’s Hang Seng dropped 1.4% to 23,090.27.
Australia’s S&P/ASX 200 shed 0.7% to 8,748.70.
On Wednesday, stocks wavered to a mixed close on Wall Street as losses for several tech giants including Microsoft weighed on the market. The S&P 500 fell 0.1% and the Dow Jones Industrial Average, which is less weighted with tech stocks, rose 10.4%.
The tech-heavy Nasdaq composite fell 0.4%.
Microsoft lost 2.3% and Oracle slumped 4.6%.
Many large tech companies have been behind Wall Street’s record-setting run throughout the year, but analysts have warned their valuations may have become stretched.
Google’s parent company Alphabet slipped 0.2%. The company is replacing Verizon in the Dow on Monday. Its inclusion in the S&P 500 means more to investors, however, because 401(k) accounts are much more likely to include an S&P 500 index fund than anything tied to the Dow.
Alphabet will become the fifth Magnificent 7 tech company to join the Dow. The others are Apple, Amazon, Microsoft and Nvidia.
Oil companies had some of the biggest losses as prices fell while the U.S. and Iran negotiate a possible end to their war. Exxon Mobil fell 2% and Chevron lost 2.6%. Brent crude, the international standard, fell 3.8% to $73.87 a barrel. It has been trading below $80 in recent days but is still above the roughly $70 per barrel it was trading at in late February before the war began.
U.S. crude prices fell 3.9% to $70.34 a barrel.
Early Thursday, Brent was down 0.8% at $73.32 a barrel, while U.S. benchmark crude lost 0.5% to $69.88 a barrel.
Some of the bigger winners on Wall Street included homebuilders following approval of legislation beneficial to the industry. KB Home surged 16.7% and D.R. Horton jumped 6.7%.
The Federal Reserve will get an update on inflation later Thursday, when its preferred measure for prices is released. Economists expect the Personal Consumption Expenditures price index, or PCE, to show that prices rose 4.1% in May. That would be the highest level in three years.
Inflation has been rising as tariffs raise costs for many goods. It worsened as the war pushed energy and shipping prices higher and that impact is expected to linger even as oil and gasoline prices fall.
In other dealings early Thursday, the U.S. dollar rose to 161.81 Japanese yen from 161.79 yen. The euro rose to $1.1362 from $1.1359.
UPDATE: Dejae Brown and Alana Mumphrey voluntarily surrendered to law enforcement sometime Thursday. This according to Longview Police Department Public Information Officer LaDarian Brown. The investigation is ongoing.
TYLER — A fresh watermelon is a Texas Fourth of July staple, but growers across South Texas are facing a tough season as persistent rain and cooler temperatures slow production. Texas A&M AgriLife reports that the unusually wet weather has fueled weeds, insects and crop diseases, all of which make growing and harvesting far more difficult in one of the state’s most important watermelon?producing regions.
KILGORE – The East Texas Oil Museum will open a new exhibit July 3, “One Texan’s Improbable and Unimaginable Journey: Albert ‘Pappy’ DeHart’s Best-Worst Seat in History,” highlighting the life and military service of an East Texas native whose experiences placed him at the center of one of World War II’s most significant events.
LONGVIEW – A man was arrested in Longview on Monday after he was involved in a crash on Mobberly Avenue that left a 44-year-old woman dead, according to Longview Police, and our news partner, KETK.
TYLER – The Tyler Chamber of Commerce convened local developers, engineers and government officials on Tuesday for a briefing on proposed revisions to the federal Waters of the United States regulations that could significantly reshape how water resources are managed across Texas.
SMITH COUNTY – According to arrest records, a man from the Dallas area assaulted a Smith County deputy on Sunday morning while attempting to take the deputy’s gun and repeatedly resisting arrest. Members of a nearby church allegedly intervened to assist, according to the documents. Delano Davis is accused of resisting arrest, assaulting a peace officer, trying to steal a weapon from an officer, and interfering with public duties. Since Sunday, he has been detained at the Smith County Jail. Around 11:20 a.m. on Sunday, a Smith County Sheriff’s Office deputy responded to a call regarding a man stepping in front of moving cars close to County Roads 165 and 168 in the Flint-Gresham area, according to an arrest affidavit.
UPDATE: Emiliano Lorenzo Alonzo Ebanez was taken into custody at around 5:41 p.m. on Wednesday, the Jacksonville Police Department said. He will be transported to the Cherokee County Jail, where he will be processed for booking.
TYLER – The push to modernize the Water Business Office came from our customers. Over the past several years, utility customers have asked for more payment options, better account information, and tools that make managing utility accounts easier. On Wednesday, June 24, the City of Tyler took another step toward those goals when the new utility payment system went live.
NEW YORK (AP) — Stocks rose on Wall Street Wednesday as falling bond yields and lower oil prices helped ease pressure on the market.
TYLER – Keep the momentum. Build for the future. That’s the message Stuart Hene carried throughout his campaign, and it’s the trajectory he plans to continue as he steps into his new role as Tyler’s mayor.
HENDERSON COUNTY – A judge in Henderson County has given the prosecution a deadline to decide whether to pursue the death penalty for a suspect in a double murder. Chandler resident Lance Kaeden Rains, 25, showed up for a pretrial hearing in Judge Scott McKee’s courtroom Wednesday morning. Rains is charged with the shooting deaths of Chandler residents Gabriel and Beverly McBride in December 2018.
TYLER – In order to help with the construction required to reopen the North Northeast Loop 323 extension to U.S. Highway 271, Smith County commissioners approved on Tuesday allowing Texas Department of Transportation workers to enter a portion of Camp Ford. Due to excessive rainfall in May 2024, a culvert washed out, closing that portion of Loop 323 to traffic for more than two years. There, a bridge will be constructed by the Texas Department of Transportation. In the coming weeks, construction is anticipated to start. Commissioners authorized a temporary construction easement for TxDOT workers to help build the bridge during their Tuesday meeting.
MARSHALL — A Waco-based real-estate company has secured a contract to start landscape and renovation work at the former Marshall High School to transform it into a new lofts, they announced on Tuesday. After working with the city and visiting the site to take bids, Versatile Real Estate Company will begin its extensive work on the property’s landscape and renovations to the building on July 6, the company said.
TYLER – The Tyler Parks and Rec Department held a groundbreaking ceremony on Tuesday to celebrate Stewart Park, which will be the newest park to open in Tyler in more than 20 years.
SMITH COUNTY — Amid a surge in cryptocurrency scams sweeping East Texas, Smith County Sheriff Larry Smith convened regional lawmakers Monday in an urgent bid to confront what he warned is becoming a rapidly escalating threat. According to our news partner KETK, the meeting was attended by several lawmakers, including Sen. Bryan Hughes, State Representatives Cole Hefner and Daniel Alders, and the Captain of the Texas Federal Crimes Intelligence Center, Jeff Roberts.
MINEOLA – Ahead of wildfire season, Anheuser-Busch, delivered over 1.5 million cans of emergency drinking water to volunteer fire departments across the country, including several in East Texas.
SMITH COUNTY – Smith County Animal Control is seeking the public’s help in identifying a person who recently abandoned multiple puppies in front of a community office near Lake Palestine. According to our news partner KETK, the Smith County Animal Control said the individual who unloaded the puppies from his truck and left them in front of their office on Saturday.