Stock market today: Dow, S&P 500, Nasdaq rise as Micron eases AI fears, PCE comes in hot

LIVE Stock market today: Dow, S&P 500, Nasdaq rise as Micron eases AI fears, PCE comes in hot Amalya Dubrovsky and Karen Friar Updated Thu, June 25, 2026 at 3:41 PM GMT+2 2 min read MU QCOM ^GSPC ^DJI ^IXIC Tech stocks 8 on Thursday as blowout Micron ( MU ) earnings helped boost sagging confidence in the AI trade and offset a fresh inflation report that showed prices rising again in May. The tech-heavy Nasdaq Composite ( ^IXIC ) shot up 0. 9%, while the S&P 500 ( ^GSPC ) rose 0.

8%, following several tough days for Wall Street stocks. The Dow Jones Industrial Average ( ^DJI ), which includes fewer tech names, climbed 0. 7%.

Micron's record-setting quarterly results relieved Wall Street jitters over lofty AI valuations and spending. Its shares rocketed more than 17% after the company's sizeable earnings beat and stronger-than-expected outlook signaled healthy demand for its memory chips. Meanwhile, Qualcomm ( QCOM ) announced a move beyond smartphones into data center products such as chips and servers, in a bid to cash in on the AI boom.

Its stock rose about 10% after it set a target of $15 billion in related new revenue. In another lift to spirits, oil prices fell back to levels not seen since the Iran war as supply flooded back through the Strait of Hormuz. Brent crude futures ( BZ=F ) dropped slightly below $74 a barrel, while West Texas Intermediate futures ( CL=F ) were at around $70.

Focus also shifted to the latest release of the Personal Consumption Expenditures (PCE) Index, the Federal Reserve's preferred measure of inflation, which showed prices heated up again in May amid the Iran war shock. PCE rose 4. 1% in May, in line with expectations, and 0.

4% month over month, slightly below expectations. That's likely to keep the debate about an interest rate hike in play this year. The chance of interest rate hikes this year has weighed on stocks, after consumer and wholesale prices for May came in hotter than expected.