Stock market today: S&P 500, Nasdaq eye rebound from tech rout with Micron in focus

LIVE Stock market today: S&P 500, Nasdaq eye rebound from tech rout with Micron in focus Amalya Dubrovsky and Karen Friar Updated Wed, June 24, 2026 at 3:33 PM GMT+2 1 min read ^IXIC US stocks steadied on Wednesday after a second bruising day for techs, with Wall Street looking to Micron's ( MU ) earnings later for a health check on AI demand. The tech-heavy Nasdaq Composite ( ^IXIC ) and S&P 500 ( ^GSPC ) both rose around 0. 4%, following steep losses for the indexes on Tuesday as AI-focused names took a hit.

The Dow Jones Industrial Average ( ^DJI ) which includes fewer tech stocks, traded broadly flat. Worries about lofty valuations and massive spending, alongside fears of coming interest-rate hikes, have prompted a wave of profit-taking in high-flying AI-linked stocks. Micron's earnings are due after the bell on Wednesday , and the results will be closely watched as Wall Street assesses just how much faith to put in AI.

Its shares have been on a tear this year, rising more than 250%, but they sank 13% on Tuesday amid the tech rout. Late Tuesday, Cerebras ( CBRS ) posted its first earnings report since going public in May. Shares of the AI chipmaker dropped over 8% at the opening bell after it forecast profit margins would lag those from rivals such as Nvidia ( NVDA ).

Meanwhile, uncertainty persists over US-Iran talks and where key issues might ultimately land. While President Trump had pledged the Strait of Hormuz would remain free of tolls, Iran and Oman have started discussing a system to charge fees for ships to cross the key supply-flow waterway. FedEx ( FDX ) cited rising transportation costs and the impacts of shifting trade policy for shrinking operating margins in its after-hours earnings report .

Shares in the delivery company, seen as a bellwether for the broader economy, slid before the bell. LIVE 8 updates 22 mins ago Jake Conley US stock market opens on wary footing on Wednesday The US stock market started Wednesday with tepid moves as investors look toward Micron ( MU ) earnings after the bell to reignite the tech trade. The tech-heavy Nasdaq Composite ( ^IXIC ) led gains, up 0.

5%, while the S&P 500 ( ^GSPC ) picked up 0. 4%. The Dow Jones Industrial Average ( ^DJI ) held steady at the flat line.

In focus for investors will be Micron's earnings report, due after the bell. The memory maker is likely to serve as a key bellwether for the demand side of the AI boom, and traders will be looking for a recovery in the stock price after steep losses on Tuesday. Cerebras ( CBRS ), another chipmaker, posted its first earnings report since going public in May, sending shares down 8% afer it said profit margins would be tighter than expected.

In the oil market, Brent crude crossed below $75 per barrel on Wednesday morning for the first time since the war began, as oil began to flow once more. Today at 12:49 PM UTC Jake Conley Brent drops below $75 per barrel for first time since war began The price of Brent ( BZ=F ) oil futures fell below $75 per barrel for the first time since the war began, as pressures in the Persian Gulf continue to abate and oil reaches the market. The Brent contract is the international benchmark for oil pricing, on which almost all other oil grades are based.

Contracts on WTI, the US benchmark, traded near $71 Wednesday morning. The move on Brent pricing comes after a loss of 27% over the previous month as peace negotiations to end the conflict that has roiled the global energy market came to a head with the signing by the US and Iran of a memorandum of understanding (MOU). The MOU calls for the reopening of the Strait of Hormuz and for freedom of navigation for oil tankers and other vessels that have been stuck on either side of the critical waterway.

Both US and Iranian leaders have promised safe passage of vessel transits, though some larger shipping lines have elected to wait for a longer period to assess whether the tentative peace agreement holds. Contrary to expectations in March, the International Energy Agency is now expecting a surplus of oil in the market in 2027, and major banks have begun to bring down their price targets. Goldman Sachs on Wednesday lowered its Brent price target for the third and fourth quarters to $86 and $80 per barrel, respectively.

While contracts currently trade below that level, experts have warned that drawdowns in international reserves could still force prices higher before the global oil system can begin moving crude en masse again. Today at 12:13 PM UTC Grace O'Donnell Elon Musk loses trillionaire status, according to billionaires index Elon Musk is no longer a trillionaire, according to the Bloomberg Billionaires Index , losing the singular status a little more than a week after earning it. According to the index, Musk’s net worth currently stands at $957 billion — still a staggering amount and well above that of the next-richest person in the world, Google co-founder Larry Page, who boasts a $297 billion fortune.

Elon Musk gestures as he leaves after attending a welcome ceremony for U. S. President Donald Trump with Chinese President Xi Jinping at the Great Hall of the People in Beijing, China, May 14, 2026.

REUTERS/Evan Vucci · REUTERS / REUTERS Musk became the world’s first trillionaire last Friday following the debut of his rocket and satellite company, SpaceX ( SPCX ), his biggest asset. Musk also owns 717 million Tesla ( TSLA ) shares, not including vested stock options. SpaceX stock lost 19% over the past five trading days, while Tesla has lost 7% over that period, taking a toll on Musk’s wealth on paper.

Today at 11:52 AM UTC Grace O'Donnell Bessent: Inflation will come down as AI stands to double productivity Treasury Secretary Scott Bessent spoke at the Economic Club of New York last night, giving a wide-ranging speech on everything from housing to artificial intelligence. He noted that he expects inflation to start coming down and that artificial intelligence will at least double productivity. US Treasury Secretary Scott Bessent attends the press conference of President Trump during the final day of the 2026 G7 Summit in France on June 17, 2026.

(Getty Images) · MARCO GONCALVES via Getty Images Yahoo Finance’s Jennifer Schonberger reports: "Now that we are on the other side of this [Iran] conflict, gas prices will come back down, inflation will come back to target," Bessent said. Bessent urged allowing the negotiations with Iran to play out. He argued that Iran still sold its oil to China when the Strait of Hormuz was closed and that it's better that Tehran is getting a rate of $75 today than 80% of $115 a few weeks ago.

"This is a very conditional performance-based negotiation, and we are offering them carrots, and then there are sticks," Bessent said of negotiations with Iran. Read more here. Today at 10:40 AM UTC Karen Friar Big Tech's $2.

7 trillion AI bill comes due The "Magnificent Seven" plus Broadcom ( AVGO ) and Oracle ( ORCL ) have lost roughly $2. 7 trillion in market value in June, according to Yahoo Finance analysis, as investors take a harder look at the companies funding the AI build-out. Yahoo Finance’s Jared Blikre lays it out in today’s Chart of the Day.

Initially, this month's reset focused on the Magnificent Seven . Now the pressure captures Broadcom and Oracle — two names closely tied to the AI infrastructure build-out. The reset cuts across both sides of the AI complex.

Yahoo Finance analysis of AlphaSpace data Nvidia ( NVDA ) and Broadcom are tied to the hardware boom. Microsoft ( MSFT ), Alphabet ( GOOGL , GOOG ), Amazon ( AMZN ), Meta ( META ), and Oracle are tied to the spending boom. Apple ( AAPL ) and Tesla ( TSLA ) remain part of the megacap growth trade investors have treated as an AI-adjacent proxy.

The market is putting a price on the cost of the build-out. Read more here . Today at 10:05 AM UTC Karen Friar SK Hynix seeks $29 billion with new US listing to fund AI boom Bloomberg reports: SK Hynix Inc.

( 000660. KS ) is looking to raise 45. 45 trillion won ($29.

4 billion) by selling depositary receipts on the Nasdaq exchange. The company expects trading to start on July 10, according to a statement on Wednesday. SK Hynix controlled 57% of the global market share by revenue in the fourth quarter of 2025, according to data from Counterpoint Research.

The firm, however, trades at a discount to both Micron ( MU ) and Samsung Electronics ( 005930. KS , SSNLF ). The insatiable demand for memory chips has fueled breakneck rallies in these stocks, with SK Hynix stock listed in Seoul climbing more than 300% this year.

… A US listing would give the company access to a fresh pool of investors and could help SK Hynix narrow a gap in its valuation compared with its competitors. Read more here . Today at 6:53 AM UTC Rian Howlett Alphabet to be included in Dow Jones, replacing Verizon Yahoo Finance’s Ines Ferré reports: Alphabet ( GOOGL , GOOG ) will join the Dow Jones Industrial Average (DJI) on June 29, replacing Verizon Communications ( VZ ) in a move aimed at better reflecting growing areas of the US economy.

Alphabet's inclusion will "broaden and strengthen the DJIA's exposure" to areas such as artificial intelligence, cloud computing, healthcare technology, and digital advertising said the S&P Dow Jones Indices statement. The release noted that Alphabet's "larger market capitalization and share price, together with the breadth of its businesses," make it a stronger representative of the Communication Services ( XLC ) sector. Because the Dow is weighted by stock price, Verizon's lower-priced shares contribute relatively little to the index's performance.

Verizon shares are up roughly 14% year-to-date. Read more here. Today at 5:29 AM UTC Rian Howlett Gold sinks under $4100 after market drop sparks liquidity selloff Bloomberg reports: Gold ( GC=F ) extended a decline, as a tech-led selloff on Wall Street prompted investors to cut bullion holdings to cover losses elsewhere in their portfolios.

Spot gold dropped below $4,100 an ounce, after giving up 1. 7% in the previous session for its lowest close in two weeks. Treasuries rallied on Tuesday and a gauge of the dollar rose 0.

4%, making gold that's priced in the US currency more expensive for most buyers. While gold is known as a haven investment, it often falls during big cross-market selloffs as it functions as a source of liquidity. Stocks in Asia were poised to extend losses on Wednesday on concerns that the AI-driven equity rally has run too far.

The tech slump has heaped further pressure on gold, which is already weighed down by concern that lingering inflation risks mean the Federal Reserve will hike interest rates. The hawkish tone adopted by new Fed Chair Kevin Warsh has jolted investors and offset the positive impact from an interim US-Iran peace deal signed last week. Higher borrowing costs are a headwind for non-yielding precious metals.

Read more here.