Here are the top stories from global financial media overnight and this morning.

Trump Abruptly Cancels Bipartisan Housing Bill Signing Ceremony

U.S. President Donald Trump suddenly canceled plans to sign a bipartisan housing bill, stating he would refuse to take any action on the housing legislation until lawmakers pass a long-stalled voter eligibility bill. In a series of social media posts Wednesday morning that caught Capitol Hill lawmakers off guard, Trump called the housing bill "insignificant" compared to his other priorities, despite its overwhelming passage through both the Senate and House. He also mocked the bill for gaining support from Massachusetts Democratic Senator Elizabeth Warren. He wrote that canceling the signing ceremony was necessary because he considers passing the SAVE America Act, aimed at tightening voting rules nationwide, a "national emergency."

Major U.S. Banks Pass Fed Stress Tests, Clearing Path for Dividends and Buybacks

All major U.S. banks passed the Federal Reserve's annual stress tests, paving the way for these institutions to increase share buybacks and dividends. The tests are designed to assess how Wall Street banks would perform under hypothetical shocks to the financial system. Unlike previous years, the 2026 test results will not affect capital requirements, as the Fed is still revising the testing framework to make it more bank-friendly. In a statement Wednesday, the Fed said that given this decision, it "does not expect these firms to delay until a specific point in time before publicly disclosing their planned capital actions through the third quarter of 2027."

Micron Technology Stock Jumps 10% as Revenue Quadruples Amid Memory Supply Crunch

Micron Technology (NASDAQ: MU) reported earnings after the U.S. market close, showing revenue surged significantly from $9.3 billion a year earlier. For the current quarter, the company expects revenue of approximately $50.0 billion, compared to $11.3 billion in the year-ago period. Analysts, according to LSEG data, had previously forecast revenue of $43.58 billion. The company's revenue more than quadrupled in the fiscal third quarter. The stock rose about 10% in after-hours trading following the news. Micron stated that AI-driven demand is expected to keep memory supply tight through 2027 and beyond. The company also said it has signed 16 long-term agreements with customers, including data center operators and automakers, locking in sales for three to five years. Micron's gross margin, the profit left after subtracting the cost of goods sold, jumped to 84.9% in the third quarter, up from 74.9% in the prior quarter and 39% a year ago, also exceeding analyst expectations. The company reported quarterly net income of $28.24 billion, or $24.46 per share, compared to net income of $1.89 billion, or $1.68 per share, a year earlier.

Two Key Google AI Researchers Reportedly Planning to Jump to Anthropic

People familiar with the matter say two key AI research leaders at Alphabet's (NASDAQ: GOOGL) Google plan to defect to rival Anthropic. Combined with a recent series of high-level departures, this move could threaten the search giant's standing in the artificial intelligence field. The individuals, Jonas Adler and Alexander Pritzel, seen as key contributors to Google's Gemini large language model, are set to join Anthropic, the people said. Adler has worked on Google's AI programming efforts, while Pritzel has been involved in AI systems training. As an early pioneer in AI, Google has lagged behind rivals like OpenAI and Anthropic for much of the current AI boom, only regaining its footing with more advanced models and chips late last year.

Qualcomm Secures Meta Data Center Processor Order in AI Hardware Breakthrough

Qualcomm (NASDAQ: QCOM) stated that Meta Platforms Inc. (NASDAQ: META) has agreed to use the company's new data center processor in its infrastructure, a move indicating the mobile chipmaker is gaining a foothold in the booming market for AI devices. At an event in New York on Wednesday, Qualcomm said Meta will adopt its Dragonfly C1000 chip and subsequent products in its facilities. The San Diego, California-based company said the microprocessor will be available in 2028.

Bitcoin Falls Back Below $60,000 as Key Support Pillars Show Cracks

Bitcoin fell back below $60,000, reviving a concern that had largely vanished from the crypto market over the past two years: what happens when retail investors lose interest and the market's biggest buyer comes under pressure. Bitcoin broke below a closely watched support level on Wednesday as investors grew increasingly worried about the financing machine of Michael Saylor's Strategy (NASDAQ: MSTR) and as retail investors more broadly stepped back—many having shifted their attention and capital to AI stocks. "The market is repricing MSTR and STRC in their entirety," said Shiliang Tang, managing partner at Monarq Asset Management. MSTR and STRC are the ticker symbols for Strategy's common and preferred stock, respectively.