On June 26, 2023, the S&P 500 Index is down 0.18%, while the Dow Jones Industrial Average is up 0.49%, and the Nasdaq 100 Index is down 0.20%. Notably, September E-mini S&P futures are down 0.30%. Micron Technology’s shares surged over 9% after forecasting Q4 revenue of $50 billion, significantly higher than the expected $43.24 billion, bolstered by optimism in chipmakers and artificial intelligence.
Key U.S. economic data today reflects a strengthening labor market, with weekly jobless claims falling by 12,000 to 215,000—better than the anticipated 225,000. Additionally, May personal spending and income rose 0.7%, exceeding expectations of 0.6% and 0.4%, respectively. GDP for Q1 was revised upward to 2.1% from an earlier estimate of 1.6% annually.
In global markets, the Euro Stoxx 50 is up 0.37%, while Japan’s Nikkei-225 surged by 4.61%. Crude oil prices fell more than 1% to a four-month low, influenced by signs of potential output increases from Saudi Arabia and Iraq’s warnings of possible OPEC exit. The 10-year T-note yield dropped to a six-week low of 4.36%, driven by benign inflation data.
5 Stocks Our Experts Predict Could Double In the Next Year
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