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Oil Prices Plunge but Nasdaq Slumps; Micron Drops 8% as Market Fears Broadcom-Style 'Good News Out' Tragedy Repeats
TradingKey - As geopolitical conflicts eased significantly, tech stocks suffered a sell-off, dragging down market sentiment. Under the traditional macroeconomic analysis framework, falling oil prices typically correspond to the easing of inflationary pressures and a recovery in market risk appetite, which theoretically should provide positive support to the stock market. However, the market failed to see the expected rebound. As of press time, the three major U.S. stock indexes declined across the board: the Dow Jones Industrial Average rose 0.01% to 51,717.81 points; the Nasdaq Composite Index fell 1.32% to 25,822.07 points; and the S&P 500 Index fell 0.88% to 74,070.05 points.
'Nvidia Challenger' Cerebras' First Earnings Loom, World's Largest Chip Faces Performance Test
TradingKey - After the market close on June 23, ET, AI chipmaker Cerebras Systems (CBRS) will release its first quarterly earnings report since going public. This marks a transition for the company, widely seen as a potential challenger to Nvidia, from its IPO-stage narrative to the verification of its actual operational capabilities.
Why ASML is a buy After Terafab Deal?
Already, the company is recording double-digit top line, which indicates the momentum has kicked off. The backside of this bullish perspective is that if AI-capex stumbles, this may hit ASML’s sales, which may limit my earnings projections.
US Pre-Market: SpaceX Bucks Trend to Turn Positive After Falling Below IPO Debut Price, Chip Stocks’ Collective Slump Drags Nasdaq Futures Down 2.7%
TradingKey - On June 23, Eastern Time, the three major U.S. stock index futures fell collectively in premarket trading. As of press time, Dow futures (YM) fell 0.48%, S&P 500 futures (ES) dropped 1.32%, and Nasdaq 100 futures (NQ) slid 2.70%, shedding over 800 points.
Can You Still Chase After a 300% Annual Gain? Micron Earnings Are Imminent, Wall Street Bets AI Memory Supercycle Is Far From Peaking
TradingKey - As the post-market earnings release date on June 24 approaches, global memory chip giant Micron Technology (MU) stands at a historic crossroads. Over the past year, Micron's stock price has surged by over 800%, with a year-to-date gain of nearly 300%, and officially joined the trillion-dollar market capitalization club in May.
Korean Stocks Trigger Circuit Breakers Twice in a Single Day; SK Hynix and Samsung Electronics Both Plunge 12%, Kioxia Tumbles Over 15%
Japanese and South Korean stock markets suffered a "Black Tuesday," as the KOSPI Index, Nikkei 225, Samsung Electronics, and Kioxia all plummeted.
