Semiconductor strength and Micron’s earnings outlook lifted tech, while Apple’s price hikes weighed on sentiment amid inflation concerns.
US stocks ended mixed, with the Dow eking out modest gains while the Nasdaq declined. Semiconductor stocks and AI-linked shares rebounded after Micron’s stronger earnings outlook, driving sector momentum. Micron surged 15.74% to close at $1213.56, bolstering broader tech sentiment.
The S&P 500 remained nearly unchanged, reflecting uneven sector performance. Apple’s 6.12% drop to $275.15, its worst day since April 2023, followed price hikes on products due to higher chip costs, raising concerns about potential inflationary pressures.
Markets showed tentative signs of rebuilding upside momentum, though Fed policy uncertainty and labor data kept gains in check. Small caps, tracked by the Russell 2000, advanced on improved risk appetite but remained sensitive to yield movements.