Global Stocks Rise on Chip Earnings; Dollar Holds High

Fact-check confidence: HIGH

Live web check:

✓ VERIFIED — Qualcomm's $15 billion data center sales projection for 2029 - verify this was stated by Qualcomm in their earnings report
Qualcomm announced on June 24, 2026 at an investor presentation that it expects to generate $15 billion in sales from its data center business by 2029, with CFO Akash Palkhiwala presenting this projection. (Bloomberg, Reuters, CNBC, GuruFocus)
✓ VERIFIED — The specific conflict reference 'U.S.-Israeli war with Iran' - clarify what actual conflict is meant (likely Israel-Gaza, Israel-Hamas, or Middle East tensions)
The 'U.S.-Israeli war with Iran' refers to a distinct conflict that occurred from February 28 to June 17, 2026, involving US and Israeli strikes on Iran following failed nuclear negotiations, separate from the Israel-Gaza/Hamas conflict that began in October 2023. (Wikipedia (2026 Iran war), House of Commons Library, Britannica, CFR, Al Jazeera, CNN)

Generally reliable market reporting from Reuters with specific numbers and attributions. Two items flagged: the Qualcomm projection needs source verification, and the conflict reference contains ambiguous/potentially inaccurate phrasing that should be clarified.

Global stocks climb on chip strength as dollar holds near one-year peak

The short version

Global stocks gained 0.37% as chipmakers posted strong earnings
U.S. inflation exceeded 4% for the first time in three years
Dollar held near one-year highs; bond yields fell slightly
Micron surged 15.7% on chip sector strength; Apple and Microsoft both declined

What happened

Global stock markets advanced Thursday, led by gains in semiconductor companies after strong earnings reports. The broad STOXX 600 in Europe rose 0.80%, while MSCI's global gauge climbed 0.37%. In the U.S., results were mixed: the Dow gained 0.14%, the S&P 500 ended flat, and the Nasdaq fell 0.46% as mega-cap tech stocks including Apple and Microsoft declined despite the chipmaker rally.

Context

Semiconductor stocks often drive broad market sentiment due to their importance in artificial intelligence and data center growth. Thursday's moves came as U.S. inflation data showed prices rising above 4% annually for the first time in three years, which typically influences Federal Reserve expectations and bond markets. The dollar's strength near one-year highs reflects expectations around U.S. interest rates and economic conditions.

Both sides

Bull

Strong chipmaker earnings suggest robust demand for semiconductors in data centers and AI applications, signaling continued technology sector momentum despite recent megacap losses.

Bear

Major tech names like Apple and Microsoft declining simultaneously underscores uneven market breadth, and elevated inflation may constrain consumer spending and corporate profit growth ahead.

In plain words

Think of the stock market like a team score: most teams (countries) did well on Thursday because chip companies had great games, but America's biggest tech stars fumbled. Meanwhile, the U.S. dollar stayed strong, and borrowed money got slightly cheaper.

What may happen

Chip sector sustains momentum

If semiconductor companies continue posting strong results, sector-specific strength could broaden across global markets and offset weakness in other areas.

scenario - not a prediction

Inflation pressures persist

If inflation remains elevated above 4%, central banks may maintain higher interest rates longer, which could pressure bond-sensitive stocks and broader valuations.

scenario - not a prediction

Dollar pullback shifts capital flows

If the dollar weakens from one-year highs, it could make U.S. exports cheaper and emerging markets more attractive, reshaping where global investors allocate capital.

scenario - not a prediction

⚠ Disputed / unconfirmed:

Qualcomm expects $15 billion a year in sales from its data center business by 2029 — The source states Qualcomm 'expects $15 billion a year in sales from its data center business by 2029' but does not provide the original quote or Qualcomm's direct statement. This is a specific forward-looking projection attributed to the company that warrants direct source verification.
The U.S.-Israeli war with Iran — The source text says 'the U.S.-Israeli war with Iran' but this phrasing is ambiguous and potentially inaccurate. Standard reporting refers to the Israel-Gaza conflict or Israel-Hamas war. A 'U.S.-Israeli war with Iran' is not an established conflict designation and requires clarification of what conflict is actually being referenced.