The Vacuum Broke the Ceasefire. Micron Broke the Selloff.

Twin earthquakes hit Venezuela, Russian refineries continue to burn, and Micron’s blockbuster earnings put investors firmly back in risk-on mode.

7am in Port pf Spain. Coffee number one is finally in hand after this morning’s assessment of the damage.

No, not from the two earthquakes that struck Venezuela overnight. We didn’t feel them here in Trinidad.

The damage was apparently caused by the vacuum, which once again violated the ceasefire agreement with the dogs. At this point, I’m beginning to think it’ll be easier to change the vacuum’s cleaning schedule than negotiate a lasting peace treaty.

Anyway…

Overnight, Venezuela was rocked by two powerful earthquakes just minutes apart, reported at 7.1 and 7.5 magnitude, with early reports pointing to extensive damage across parts of the country.

Micron absolutely demolished earnings and raised guidance, putting the AI trade firmly back in the driver’s seat. Nasdaq futures are surging as investors pile back into semiconductors before the opening bell.

Ukraine continues its campaign against Russian energy infrastructure, with additional refinery and fuel depot strikes overnight. Several facilities are now expected to remain offline for months, and in some cases well into 2027, tightening long-term refining capacity.

Despite the ceasefire framework, military aircraft remain highly active around the Strait of Hormuz while commercial shipping continues to recover. Vessel traffic has more than doubled from yesterday as confidence slowly returns, although the situation remains fluid.

Overnight Markets

• US Futures: Strongly higher across the board.

  • S&P 500 futures +0.73%

  • Nasdaq 100 futures +2.17% (AI leading)

  • Dow futures +0.21%

  • Russell 2000 +0.17%

• Asia:

  • 🇯🇵 Nikkei +4.61% — strongest performer after the AI rally.

  • 🇨🇳 Shanghai +0.23%.

  • 🇭🇰 Hang Seng -1.43%.

  • 🇦🇺 ASX 200 -0.68%.

• Europe: Broadly positive into the open.

  • FTSE 100 +0.33%

  • DAX +0.71%

  • CAC 40 +0.53%

  • Euronext 100 +0.74%

Commodities

The peace dividend continues to pressure energy.

• WTI crude $69.55 (-1.1%)

• Brent crude $73.05 (-1.1%)

• Natural gas +1.8%

• Gold -$7.20

• Silver -1.15%

• Copper +1.4%, continuing to benefit from the AI infrastructure buildout.

It looks like Wall Street has already made its decision this morning.

The market is looking past the geopolitics… and straight back toward AI.

Now let’s see if the opening bell agrees.