Major indices rebound as WTI crude drops to $70 and tech shares recover ahead of Micron earnings.
US equities advanced at midday, with the Dow Jones up 0.89% to 52,125.67, the Nasdaq gaining 0.65% to 25,753.08, and the S&P 500 rising 0.61% to 7,410.55. Falling oil prices and a stabilization in technology shares drove the recovery after yesterday’s losses.
Gold futures declined 3.09% to $4,021.20, while the 10-year Treasury yield slipped 0.08% to 4.41%. Industrials and consumer cyclicals led sector gains, while energy and basic materials lagged. WTI crude fell to $70 a barrel, its lowest since early March.
Micron Technology dipped slightly ahead of its after-hours earnings report. Wendy’s surged over 40% in a meme-stock rally, while Chemours climbed following a $450 million environmental settlement. Broadcom rose after unveiling a new AI chip developed with OpenAI.