LIVE MARKETS-Nasdaq extends recent slide, but Micron shares pop
Micron Technology, Inc. MU | 0.00 | |
NIKE, Inc. Class B NKE | 0.00 | |
SpaceX SPCX | 0.00 | |
Dow Jones Industrial Average DJI | 0.00 | |
CBOE Volatility Index | 0.00 |
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NASDAQ EXTENDS RECENT SLIDE, BUT MICRON SHARES POP
The Nasdaq .IXIC is lower in early trading Thursday, extending recent losses even as Micron Technology MU.O is rallying following its upbeat forecast, while the Dow .DJI is up more than 1% and the S&P 500 .SPX is also higher.
Shares of Apple AAPL.O and Nvidia NVDA.O are down early and weighing on the Nasdaq along with other megacap names.
Micron shares are up more than 11%, while Qualcomm QCOM.O is up 4.6% also following an upbeat forecast.
Other memory chip stocks also are higher, including Sandisk SNDK.O.
Economic data released this morning may be providing some support for stocks. It showed U.S. inflation increased further in May, breaking above 4.0% for the first time in three years as the Middle East conflict boosted energy prices, but also that consumers have maintained their spending, thanks to larger tax refunds this year.
Here is the early market snapshot:
(Caroline Valetkevitch)
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EARLIER ON LIVE MARKETS:
SOLID DATA BOOSTS STOCK FUTURES CLICK HERE
JAPAN'S YEN: WHY TOKYO MAY BE WAITING BEFORE FIRING AGAIN CLICK HERE
LUXURY BUYERS SEE NO PICKUP IN DEMAND YET CLICK HERE
CRISPY CHIPS FOR BREAKFAST, EYES ON PCE CLICK HERE
BEFORE THE BELL: TECH LEADS EUROPE HIGHER, MORE M&A CLICK HERE
MICRON PUTS CHIPS BACK ON THE TABLE CLICK HERE