But the real nail-biter is the Bank of England's (BoE) interest rate decision, expected later today. This could be the first cut since 2020, and the suspense is killing us. The BoE has been holding interest rates at a 16-year high of 5.25% for the past year. Now, it looks like they might finally be ready to cut rates. But don't pop the champagne just yet—markets and economists are still on the fence about whether the British central bank will actually take the plunge. A Reuters poll last week showed that most economists expect a quarter-point cut, but they also think the vote will be a close call. 

Across the pond, the Nasdaq had a field day on Wednesday, thanks to a rebound in semiconductor stocks. AMD's stellar performance the previous evening sent stocks like Nvidia soaring, recovering 13% after a rough patch. This semiconductor rally coincided with the Fed's decision to do absolutely nothing about monetary policy. No surprises there—Jerome Powell, the master of saying a lot without saying much, left the door wide open for a potential rate cut in September. It's the worst-kept secret in the market right now.

In other news, Rolls-Royce shares hit a record high after the company raised its forecast for operating profit and free cash flow. Shell shares climbed following a quarterly profit of $6.3 billion, beating analysts' expectations. On the flip side, Wizz Air shares nosedived 14.5% after the airline lowered its annual profit forecast and reported a 44% drop in first-quarter operating profit.

Barclays and Next are feeling pretty good about themselves, having raised their outlooks. Shell not only reported a profit beat but also announced a $3.5 billion share buyback. So, there you have it—a rollercoaster of market moves, rate cut speculations, and corporate earnings. Let's not forget economic data, with tomorrow's US employment report.

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