Naxin Microelectronics launched the NSM350x series, billed as China’s first Hall-effect dual-code-track Vernier magnetic encoder chip, enabling high-precision single-turn absolute angle detection. The release makes Naxin the first domestic chipmaker to offer dual-code-track Vernier encoder products using both magnetic sensing and eddy-current sensing, expanding its high-precision angle-detection product lineup.

Fed chair Kevin Warsh opened the press briefing by reiterating the Fed's firm commitment to a 2% YoY inflation target and saying the central bank will be steadfast in achieving price stability. He called withholding forward guidance amid current uncertainty a 'prudent' approach and stressed there is no 'soft inflation target' or other implicit goals — 2% is the sole target. Warsh described the US economy as 'impressively resilient', saying it has withstood recent shocks and the underlying trend remains positive.

Qualcomm (QCOM.O) expects Q4 revenue of $9.7 bln to $10.5 bln, versus $10.02 bln consensus.