Dow falls from high, Micron profits: extended battle for market dominance
On today’s episode of Market Domination Overtime, hosts Julie Hyman and Josh Lipton break down market closing prices and report on the latest earnings for Micron (MU). The Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) retreated from their all-time highs, and the Dow ended his four-day winning streak. Citi U.S. equity strategist Drew Pettit believes the Federal Reserve’s interest rate cuts are behind the recent market moves. He said, “I think the Fed’s decision, frankly, with lower interest rates across the curve, gives people more confidence in the potential softening in the labor market, maybe some softening in the earnings macro data.” I think even with today’s housing statistics, you can say, “The Fed won’t be too far behind, and we can start preparing for a recovery.” And since at least the mid-July peak, we’ve seen not just the non-stationary stories start to work, but we’ve seen some of the cyclical stories start to work as well. Ta. ” Micron (MU) reported fiscal fourth-quarter results that beat expectations for both revenue and bottom line. Shares soared in after-hours trading after the semiconductor giant predicted better-than-expected first-quarter results. Dan Morgan, senior portfolio manager at Synovus Trust, told Yahoo Finance: “They seem to be starting to realize big gains from HBM, which of course is high-bandwidth memory used in AI chips. , we’re coming out of the doldrums cycle and now it looks like this AI is beating the numbers and profiting from it. Looking across Micron’s divisions, Morgan highlights how critical memory, driven by demand for AI chips, supported the revenue improvement. “Smartphones and PCs are not doing so well,” the analyst said. “They’re just starting to get out of the hole, and there are other applications, industrial vehicles, etc. And you’re right. If you look at DRAM prices in spot prices, they’ve pretty much flattened out.” …(Micron’s ) Major markets are still in a state of calm, including flash memory and DRAM chips. So what if we were to eliminate this AI? We’re probably not going to talk about the components, the data server space, because it’s just slowly unpacking. ” Finally, Julie Hyman and Josh Lipton break down what to watch on Thursday, September 26th, from Costco (COST) earnings to new pending home sales data. This post was written by Melanie Leal
