The Senate voted 50-48 Tuesday to approve a House-passed war powers concurrent resolution that calls on the president to "withdraw US forces from hostilities against Iran" unless Congress declares war or authorizes use of military force. The measure, marking a rare congressional rebuke of President Trump’s handling of the US-Iran conflict, is the first such resolution to clear both chambers. As a concurrent resolution it carries no legal force, requires no presidential signature and is largely s

Spot platinum down 2.58% and spot palladium down 3.32% at 15:00 Beijing time.

Twelve investment banks raised Micron Technology (MU.O) price targets ahead of the company’s earnings, citing AI-driven data‑centre demand, tight DRAM/NAND supply and rapidly rising ASPs. Morgan Stanley raised its PT to $1,050 from $520, kept overweight and raised Q3 forecasts, expecting DRAM and NAND ASPs to rise roughly 20% QoQ. Wedbush lifted its PT to $1,300, raised FY guidance to $22.84 EPS (from $19.16) and revenue to $38.5bn (from $33.5bn), and also sees Q3 DRAM/NAND prices up ~20% QoQ. Deutsche Bank raised its PT to $1,500, maintained buy, and said DRAM shortages could persist into 2028 or beyond; it models Q3 revenue at $35.1bn (above Micron’s guide upper $34.25bn) and sees 2027 EPS near $160 with gross margins above 80%. Citi bumped its PT to $1,200, expects elevated storage pricing into 2027—especially HBM—and projects DRAM ASPs could rise ~200% this year. Stifel raised its PT to $1,500, saying current DRAM ASPs are roughly double Micron’s initial model; data‑centre contract pricing has exceeded $2.50/GB and consumer pricing remains above $1.50/GB, implying a ~20% QoQ revenue jump. Jefferies flagged severe HBM tightness (global monthly wafer capacity ~330k today, ~480k by 2027 while near‑term demand could rise ~70%) and projects Micron Q3 storage ASPs +40–50% QoQ, Q4 +30–40%, and 2027 ASPs up ~40–45% YoY. Bernstein, Needham, Hina International, Wells Fargo, Goldman and other houses also materially raised targets (PTs now spanning roughly $900–$1,750) and reiterated that sustained supply constraints and strong AI-related demand should keep pricing and margins elevated through 2027, with some firms extending shortages into 2028.