New York, June 24, 2026, 16:02 EDT
- Dow edged higher, but the S&P 500 and Nasdaq closed lower in delayed data released after the bell.
- AI tech stocks were still under pressure before Micron’s earnings coming after the bell.
- Some sectors got a lift from lower oil and bond yields, but with PCE inflation data out, rate risk isn’t going away.
Stocks on Wall Street ended the session uneven as tech names slipped late. The Dow Jones Industrial Average tacked on 177.19 points, or 0.34%, to 51,844.03, according to delayed FactSet data shown on MarketWatch. The S&P 500 ended down 9.88 points, or 0.13%, at 7,355.58, while the Nasdaq Composite lost 120.38 points, or 0.47%, to finish at 25,466.66.
Stocks traded a normal schedule in the U.S. The NYSE’s main hours were 9:30 a.m. to 4 p.m. ET, with the final auction held at 4 p.m. ET, according to New York Stock Exchange data.
Tech stocks dragged the market lower late. Reuters said information technology names slipped in the afternoon. Micron traded down ahead of results, and Cerebras sold off after it gave a margin forecast and after news of OpenAI’s Jalapeño chip. Airlines moved higher as oil dropped. Homebuilders, with gains from PulteGroup and Toll Brothers, also rose. “Energy prices are coming off,” Michael Monaghan at Founder ETFs said, but investors stayed focused on AI capital spending, the cash flowing into data centers and gear. Reuters
Energy lagged. Brent crude fell 3.8% and U.S. crude slid 3.9%. Exxon and Chevron were down. The 10-year Treasury yield slipped to 4.40%. The Fed’s preferred inflation metric, the Personal Consumption Expenditures price index, is set for release Thursday. Economists expect a 4.1% reading for May, according to the Associated Press.
Micron is in the spotlight after hours. Analysts, according to Reuters, are looking for quarterly profit to jump more than 1,000% and sales up about 285%. The stock has had a big run this year. Kenny Polcari at SlateStone Wealth said when a stock is “priced for perfection,” even small misses matter: “perfection becomes the minimum requirement.” Reuters
Micron’s results are shaping up to be the week’s key event, according to James “Rev Shark” DePorre, who told TheStreet the company’s report is the “most important single event of the week.” Rosenblatt Securities analyst Kevin Cassidy told Axios he’s expecting Micron to deliver a “beat-and-raise,” with numbers and guidance coming in above estimates, helped by demand for AI and memory-chip pricing. FactSet consensus, cited by TheStreet, has earnings at $20.83 a share on $35.75 billion revenue. Axios TheStreet
SK Hynix is looking to raise up to $29.4 billion by listing American depositary receipts on Nasdaq, according to the company. These ADRs are U.S.-traded certificates representing shares in foreign firms. SK Hynix and Samsung compete with Micron in memory chips, including high-bandwidth memory for AI processors. “Trade on Nasdaq alongside rival Micron” is a key draw, said Ryu Young-ho at NH Investment & Securities. Reuters
The downside risk is still there. J.P. Morgan bumped its 2026 S&P 500 target up to 7,800 from 7,600, and BCA moved its target to 8,100. Still, according to the same Reuters report, more new equity supply and tighter monetary policy are risks for current valuations. J.P. Morgan strategists said the “path upwards will be non-linear.” Reuters
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