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Brent crude is trading under $73 a barrel while the Nasdaq is on pace for a weekly loss of more than 4%
According to a CNBC report citing a HSBC note, Micron has benefited from access to U.S. capital, helping it increase its valuation relative to SK Hynix.
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
Ternium, CBOE, Tutor, Sunstone Hotel Investors and Casey's have been highlighted in this Screen of The Week article.
By Utkarsh Hathi and Johann M Cherian June 26 (Reuters) - European shares declined on Friday, with technology shares tracking global sector weakness, while Zalando fell after Germany's financial
U.S. tech stock futures were down as a global tech selloff gathered pace. A report OpenAI was considering delaying its mooted public offering further soured already weak sentiment around the AI boom.
Tech stocks were on track to extend their recent slump on Friday as investors continued to fret about soaring memory-chip costs and wondered if the AI trading frenzy may be about to fizzle out. Nasdaq 100 futures dropped 0.9%. The Nasdaq closed in the red on Thursday as investors ditched the Magnificent Seven group of mega-cap tech stocks.
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US stock futures wavered as Wall Street digested a downbeat week for tech stocks.
<body><p>STORY: U.S. stocks ended mixed on Thursday, with the Dow ticking up more than a tenth of a percent, while the S&P 500 closed flat and the Nasdaq dropped nearly half a percent.</p><p>Technology shares reversed early gains to move lower, as investors worried about hyperscaler spending on AI and who foots the bill.</p><p>:: Micron</p><p>Those fears outweighed upbeat signals on AI demand from Micron, which gained nearly 16%, while shares of Sandisk soared 22%.</p><p>Brian Mulberry, chief market strategist at Zacks Investment Management, notes that it's memory chip makers that are now leading the charge. </p><p>"What's different about Micron, SanDisk, Western Digital, those types of names that are doing so well is that they're memory chips. And you have to have memory, specifically DRAM or H-band memory, if you're going to have enough computing power to do all the computations. That is nothing if you don't have memory to transfer it from one place to another. So one of the reasons that these stocks have done so well and the growth at Micron is so solid is because a recent redesign in the server technology means we go from eight memory chips per server to 96. That's 12 times growth in demand for this one simple component."</p><p>The surging prices of memory and storage chips prompted Apple on Thursday to hike prices for its iPads and MacBooks. That weighed on the stock, sending it down more than 6%. Shares of Nvidia, Microsoft and Alphabet also dropped.</p><p>:: Archive</p><p>Among other movers, shares of Bio-Techne jumped after Merck agreed to acquire the biotech firm for $73 per share in cash, representing a total enterprise value of about $11.3 billion.</p><p>:: Archive</p><p>Meanwhile, U.S. Department of Commerce data on Thursday showed the annual inflation rate through May rose above 4% for the first time in three years, but oil prices this week fell to below pre-war levels.</p></body>
Microsoft’s Azure growth remains a key support for the stock, with investors weighing whether AI demand can offset the rising cost of building cloud capacity.
In the closing of the recent trading day, Superior Group (SGC) stood at $13.16, denoting a -1.57% move from the preceding trading day.
In the most recent trading session, Astrazeneca (AZN) closed at $185.68, indicating a +1.45% shift from the previous trading day.
In the latest trading session, M-tron Industries, Inc. (MPTI) closed at $91.34, marking a +1.36% move from the previous day.
Lyft (LYFT) concluded the recent trading session at $14.08, signifying a -2.22% move from its prior day's close.
In the most recent trading session, Intrusion Inc. (INTZ) closed at $0.69, indicating a +1.12% shift from the previous trading day.
In the latest trading session, Sunrun (RUN) closed at $13.6, marking a -5.69% move from the previous day.
The latest trading day saw Wix.com (WIX) settling at $41.72, representing a -2.07% change from its previous close.
In the closing of the recent trading day, SkyWest (SKYW) stood at $98.29, denoting a +1.64% move from the preceding trading day.
In the most recent trading session, Silicon Motion (SIMO) closed at $325.26, indicating a +1.12% shift from the previous trading day.