Stock Market Today, May 26: Micron Surges After UBS Lifts Price Target on AI Optimism
Yahoo Finance • • business
Key Points:
- In midday trading, the S&P 500 rose 0.57% to 7,516.11, and the Nasdaq Composite climbed 1.00% to 26,606.90, driven by strength in AI-related stocks, while the Dow Jones slipped 0.23% due to lagging non-tech blue chips.
- Micron Technology surged about 18%, nearing a $1 trillion valuation after UBS tripled its price target, boosting semiconductor and AI sector gains.
- Travel stocks like United Airlines and Carnival rallied amid easing oil prices and optimism over potential Iran peace talks.
- Market optimism is supported by lower oil prices, falling Treasury yields, and fresh U.S. military strikes described as defensive; however, valuations remain stretched, suggesting long-term investors might consider taking profits.
- The Motley Fool Stock Advisor team did not include the S&P 500 Index in their top 10 stock picks, highlighting other stocks with potential for significant long-term returns.