US stocks opened higher: Dow +1.17%, S&P 500 +0.4%, Nasdaq +0.78%. Palantir (PLTR.N) surged 14.7% after sharply raising full-year revenue guidance. SpaceX (SPCX.O) and AMD (AMD.O) are due to report after the close; both gained 2.8% and 3.7% respectively. Micron (MU.O) rose 4% and Corning (GLW.N) rose 5.6%.

Japan's finance minister KATAYAMA said she had nothing further to add on Japan-US joint foreign-exchange intervention.

Philadelphia Fed President Paulson, a 2026 FOMC voter, said bringing inflation back to 2% is his top priority and outlined two scenarios: current policy could already be sufficiently restrictive to return inflation to 2% within an acceptable timeframe, or policy may still be too loose — the strongest evidence for the latter being inflation has been above target for more than five years. He said he will judge by the accumulation of data: repeated months of improvement in inflation, business contacts reporting easing pricing and hiring pressures, tariffs, energy and AI-related pressures coming under control, and inflation expectations anchored near 2%. If core inflation remains elevated with no progress over time, tighter policy would likely be required. He said he will remain open-minded while seeking to achieve 2% inflation alongside full employment.