WTI Crude Plunges 6.75% While US Futures Edge Higher Ahead of Open

Oil prices collapse sharply as US index futures rise modestly. Fed's Williams asserts policy independence from markets, while Alibaba surges on new AI model release.

Woofun AI reports that US stock index futures opened higher, with Dow Jones futures up 1.12%, S&P 500 futures up 0.55%, and Nasdaq 100 futures up 0.13%. In contrast, international oil prices fell sharply, with WTI crude dropping 6.75% to $78.951 per barrel and Brent crude declining 5.75% to $82.875 per barrel. Spot gold rose 0.05% to $4,048.39 per ounce, while spot silver fell 0.17% to $57.53 per ounce. European markets showed mixed results, with France's CAC40 rising 1.20% and Germany's DAX30 gaining 1.28%, while the UK FTSE 100 dipped 0.08%.

New York Fed President Williams stated that monetary policy is "in a good position" and will not be held hostage by markets, expressing optimism about easing inflation.

Meanwhile, Alibaba shares rose nearly 4% in pre-market trading after releasing Qwen3.8, a foundational model with 2.4 trillion parameters. Mark Gurman reported that Apple faces memory chip shortages, potentially raising iPhone prices by $100 to $200. Samsung Electronics expects foundry capacity utilization to reach 100% in the second half of this year. AstraZeneca is reportedly considering a merger with Bristol Myers Squibb, potentially creating a $400 billion entity. JPMorgan strategists noted that tech stocks may not drive market returns in the second half of the year.