Analysts praised Micron Technology stock
Stocks kicked off the holiday-shortened week mixed as investors monitored developments between the U.S. and Iran. Cooling Treasury yields and strength in the tech sector boosted sentiment, sending the S&P 500 and Nasdaq to fresh record closes. Micron Technology (MU) stole the spotlight with a sharp rally that lifted its market capitalization above $1 trillion for the first time ever. The Dow, meanwhile, snapped its three-day win streak with a triple-digit loss.
Continue reading for more on today's market, including:
- Nike stock flashing historically bearish sentiment signal.
- Intuitive Machines joined today's space rally.
- Plus, SPX levels to watch, unpacking holiday weekend data, and a short squeeze stock pick.
5 Things to Know Today
- Federal judges block Alabama's congressional map, citing discrimination against Black voters before midterm elections. (The New York Times)
- U.S. and Armenia sign strategic partnership deal as Russia pressures Yerevan over growing Western ties. (Reuters)
- 2 lesser known trends we're following this week.
- Memorial Day market data you don't want to miss.
- Nuclear energy stock with short squeeze potential.
WTI Slips from Friday's Close
Oil prices fell Tuesday amid geopolitical uncertainty. June-dated West Texas Intermediate (WTI) shed 2.8% from Friday's close to settle at $93.89 per barrel.
June-dated gold futures added 0.1% to settle at $4,527.90 per ounce.