Stories
Dow Rises and S&P 500 Flat as Micron Drags Nasdaq Lower
- •US stocks opened mixed with the Dow rising 192 points and the S&P 500 staying flat while the Nasdaq slipped due to a 3% drop in Micron Technology shares.
- •Salesforce shares climbed 3% after receiving a two-notch rating upgrade from Bank of America.
- •Investors are preparing for a busy week featuring major US bank earnings and crucial September inflation data including the consumer price index.
- •Oil prices edged higher amid renewed geopolitical tensions following Russian strikes on Ukrainian power infrastructure and Middle East concerns.
- •Asian markets ended mixed with South Korean stocks leading declines while Japanese markets remained closed for a holiday.
Key Questions Answered
The Nasdaq Composite slipped 0.1% due to a roughly 3% drop in Micron Technology shares, which fell as investors assessed rising competition from China's CXMT. Meanwhile, the Dow Jones Industrial Average outperformed and gained about 192 points, supported by gains in Salesforce after an upgrade from Bank of America.
Investors are preparing for a busy week featuring corporate earnings from major US banks such as JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo. Additionally, September inflation data, including the consumer price index on Wednesday and producer price index on Thursday, will be released to shape Federal Reserve interest-rate outlooks.
Oil prices edged higher amid renewed geopolitical uncertainty following reports that Russia struck Ukrainian power infrastructure, as well as President Donald Trump's remarks that he was considering joining Saudi Arabia against Houthi forces in Yemen. Brent crude rose to around $106 per barrel, and WTI crude traded near $93.
