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Stock Market Today: Nasdaq, S&P 500 Inch Up After Two
WSJ • • general
Key Points:
- Brent crude oil prices fell 4.3% to $73.74 a barrel, nearing pre-Iran war levels as oil-tanker traffic through the Strait of Hormuz improved.
- Tech stocks struggled, with the Nasdaq down 0.6% after a recent 4% decline, while the Dow gained 0.5% and the S&P 500 slipped 0.3%.
- AI sector concerns grew as Cerebras Systems warned of continued losses, leading to a nearly 2% drop in the PHLX Semiconductor Index following an 8% decline the previous day.
- South Korean AI chip maker SK Hynix plans a $29 billion U.S. listing, while U.S. rival Micron’s shares fell another 4% ahead of its earnings report.
- The U.S. dollar strengthened amid expectations of Fed rate hikes, pushing the Japanese yen to a multidecade low and causing Bitcoin to fall below $60,000.
