Global equity markets staged a recovery attempt on Wednesday, buoyed by better-than-anticipated earnings and guidance from Micron Technology.
The semiconductor giant’s positive outlook provided a much-needed counterweight to the relatively weak session seen in US markets the previous day, helping to stabilize sentiment across international exchanges.
Despite the relief rally sparked by Micron, the broader market tone remains cautious.
Traders are positioning ahead of the release of the Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge.
The data is widely viewed as the critical determinant for near-term monetary policy expectations, overshadowing corporate earnings in the current risk calculus.
Recent inflation data has shown resilience, with the core PCE price index for April 2026 holding steady at 3.3% on an annual basis, in line with market expectations.