Stock market today: Dow, S&P 500, Nasdaq rise as Micron eases AI fears, PCE comes in hot
Major stock indices fluctuate as Micron's record results clash with Apple-led tech selloffs and rising inflation data.
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The brief
The Dow, S&P 500, and Nasdaq experienced a rise following record fiscal third-quarter results from Micron, which eased AI-related concerns. However, this momentum shifted as Asian stocks, including the Nikkei and KOSPI, slid due to a tech selloff led by Apple.
Concurrently, PCE data reached a 3-year high. Coverage from Yahoo Finance and Reuters emphasizes Micron's growth, noting that the company surpassed Meta and Tesla in market value due to AI infrastructure demand.
Conversely, Reuters and Investing.com highlight how Apple's price hikes have dented tech optimism and triggered declines in Asian markets. Future movements depend on whether tech stocks can regain their footing following the recent struggle and how markets respond to the PCE hitting a 3-year high.
Synthesized by Archynetys from the headlines below under a strict no-invention contract. ✓ fact-checked: all claims supported by sources Updated 2h ago.
Quick answers
How did Micron perform in the third quarter?
Micron reported record fiscal third-quarter results.
Why did Asian stocks slide?
According to Investing.com and Reuters, an Apple-led tech selloff and price hikes dented optimism, affecting the Nikkei and KOSPI.
What was reported regarding the PCE?
Yahoo Finance reports that the PCE came in hot and hit a 3-year high.
Coverage (9)
- Nasdaq closes lower as chip sell-off resumes; Micron shares extend losses CNBC · 5h ago
- Oil Slides to Pre-War Lows, Breaking Its Grip on Wall Street Barron's · 5h ago
- Asian stocks slide as Apple-led tech selloff sinks KOSPI, Nikkei after AI rally Investing.com · 5h ago
- Asian shares fall as Apple's price hikes dents tech optimism Reuters · 5h ago
- Stock market today: Dow, S&P 500, Nasdaq futures drop as tech struggles to find its footing Yahoo Finance · 5h ago
- Micron reports record fiscal third-quarter results WSTM · 18h ago
- Micron overtakes Meta, Tesla in market value amid relentless AI infrastructure demand Reuters · 18h ago
- Stock market today: Dow, S&P 500, Nasdaq rise as Micron eases AI fears, PCE comes in hot Yahoo Finance · 18h ago
- Stock market today: Dow, S&P 500, Nasdaq futures rise as Micron eases AI fears, PCE hits 3-year high Yahoo Finance · 19h ago
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