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Nasdaq Soars 1.3% as the Market Rally Broadens
Barrons.com43d agobullish
Nasdaq Soars 1.3% as the Market Rally Broadens

The stock market’s rally today is broadening, after all. The Nasdaq was leading the charge with a 1.3% gain, but the S&P 500 was up 0.7%. The Dow was on track for a fresh record close with a gain of 151 points, or 0.3%.

SpaceX set to join Nasdaq 100, paving way for wave of passive buying
Reuters47d agobullish
SpaceX set to join Nasdaq 100, paving way for wave of passive buying

SpaceX will ‌be ‌added to the ​tech-heavy Nasdaq 100 index on ‌July 7, ⁠exchange operator Nasdaq ⁠confirmed on Friday, ​paving ​the ​way for ‌a surge in passive investments in Elon ‌Musk's ​rocket ​and ​AI giant. (Reporting ‌by Johann M ​Cherian ​in Bengaluru; ​Editing ‌by Shinjini Ganguli ​and Will ​Dunham)

Wall St ends mixed as tech megacap losses outweigh upbeat chip outlook
Reuters Videos48d agobullishVIDEO
Wall St ends mixed as tech megacap losses outweigh upbeat chip outlook

<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.&nbsp;</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>

Stock Futures Surge as Micron Earnings Revive AI Trade
Barrons.com49d agobullish
Stock Futures Surge as Micron Earnings Revive AI Trade

Stocks looked set to rally after memory-chip maker Micron’s strong earnings and guidance breathed some life into the artificial-intelligence trade, which has stumbled in recent sessions. Nasdaq 100 futures jumped 2% on Thursday. S&P 500 futures gained 0.7%.