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Stock market today: Stocks waver after key data as Micron slides

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Nasdaq Composite News

Economic Data,Tech Companies,Federal Reserve

A sell-off in Micron put a dent in the AI bullishness that has fueled the tech-driven rally, as investors eye fresh economic data.

US stocks wobbled on Thursday after chipmaker Micron’s outlook put a dent in tech-rally hopes, as investors assessed fresh economic data ahead of an inflation reading key to Federal Reserve policy. The S&P 500 was little changed, paring earlier still-slight losses after rising Wednesday to close not far short of a new all-time high. The Dow Jones Industrial Average slipped 0.1%, while the tech-heavy Nasdaq Composite was also flat.

Investors were weighing a new batch of economic data ahead of the PCE inflation print on Friday that will influence the Fed's thinking on timing of interest-rate cuts. A reading on initial weekly jobless claims came in at 233,000, a decrease of 6,000 from the previous week, according to Department of Labor data. The print came in below a consensus expectation of 235,000.

 

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Stock market today: US futures slip as Micron slides, with data on deckA sell-off in Micron put a dent in the AI bullishness that has fueled the tech-driven rally, as investors eye fresh economic data.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »