Braiin stock crashed nearly 40% this week, leaving investors wondering what was at the heart of the huge sell-off.
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Most of the U.S. stock market rose after oil prices eased back to where they were before the war with Iran, but drops for AI stocks kept the market in check. The Dow Jones Industrial Average fell 0.1%, and the Nasdaq composite lost 0.2%. The Nasdaq composite fell 60.99 points, or 0.2%, to 25,297.62.
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June 26 (Reuters) - Wall Street's main indexes fell on Friday, as chipmakers came under renewed selling pressure after a stellar run this quarter, with investors questioning high valuations and the
Things aren't looking good for the Nasdaq. The tech-focused index is down 4.4% through Thursday—and premarket activity suggests more pain is on the way. Stock futures are lower, with chip stocks and memory makers among the biggest losers premarket.
June 26 (Reuters) - Futures tied to the tech-heavy Nasdaq led Wall Street losses on Friday, as chip stocks came under renewed pressure after a sharp rally in the previous session, while some megacap
(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)
📣 “What we are getting right now is a power rotation. The 10-year Treasury is rallying, and that’s causing rotation into financials and consumer cyclicals. And the Nasdaq is bouncing all over the place because tech is a secular growth story and you don’t need tech as much when oil is at $70.
📣 "There are lots of traders there just trying to make a buck, so they follow the momentum and then try to take profits." —Thomas Martin, senior portfolio manager at Globalt Investments, on this morning's market moves.
Micron's earnings report gave the Nasdaq the jumpstart it desperately needed on Thursday. The Nasdaq was up 0.9%. Micron not only reported blowout results but also gave a forecast that had Wall Street ready to pile back into the chip sector after a brief road bump.
A modest projected decline in overall inflation for June doesn't tell the complete story.
U.S. stock futures pointed higher after Micron Technology’s expectation-thumping earnings reignited optimism in the AI boom.
A dayslong tech selloff raised new questions about whether America’s artificial-intelligence boom could continue at its breakneck pace. The blockbuster earnings arrived after a slump in tech shares that rippled from South Korean chip makers to American fiber-optic cable providers. As investors increasingly search for bottlenecks in the globe-spanning supply chain for AI, gauging whether profits will meet the hype, Micron suggested a worldwide scramble for memory shows no sign of slowing down.
Broader tech sell-off continued on Wednesday as investors awaited Micron earnings to judge the demand for AI and memory chips.
U.S. stocks finished mixed Wednesday as investors cashing out bets on high-flying technology and artificial intelligence companies continued to rotate into beaten-down sectors of the market.
