Wall Street Drifts in Mixed Trading After Micron Soars and Apple Drops
Micron rose after reporting stronger profit, revenue and a higher forecast, while easing Treasury yields and inflation data left major indexes mixed.
- Micron Technology jumped 9.7% on Thursday after reporting stronger-than-expected profit and revenue, while the Dow Jones Industrial Average rose 0.4% and the Nasdaq composite fell 1.2%.
- A report showed inflation accelerated to 4.1% last month from 3.8% in April, matching economist expectations as Brent crude oil prices slipped 0.1% to $73.81.
- The 10-year Treasury yield slipped to 4.36% from 4.41% late Wednesday, easing market pressure, while Qualcomm shares rose 3.1% after the chip company upgraded growth forecasts.
- Apple raised prices for many products, including increases of 15% to 20% for Mac computers on Thursday. Internationally, South Korea's Kospi jumped 5.4% and Japan's Nikkei rose 4.6%.
- Investor worries persist that profit growth cannot keep pace with recent stock price surges, as high yields in bond markets globally threaten to slow economies and hurt expensive investments.
24 Articles
24 Articles
The Toronto Star
Wall Street drifts in mixed trading after Micron soars and Apple drops
NEW YORK (AP) — The U.S. stock market is drifting in mixed trading Thursday after several artificial-intelligence stocks veered back up the roller coaster, while Apple dropped after hiking prices
The New York Stock Exchange opened up on Thursday, boosted by record results from the US manufacturer of Micron memory chips, which reassure investors on demand for artificial intelligence (AI) solutions.
Wall Street today, June 25, is affected by the sharp rise of Micron (up to 17%) and the fall of Apple (4%) in its attempt to get rid of concerns about the disproportionate increase in the valuations of companies related to artificial intelligence.After several sessions full of volatility in which the major technology companies weighed down to the main American indices, today the green numbers appear in the markets.However, the technological Nasd…
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