Dow Surges 250 Points; Micron Posts Upbeat Q3 Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 250 points on Thursday.

Following the market opening Thursday, the Dow traded up 0.50% to 52,107.28 while the NASDAQ surged 0.70% to 25,654.49. The S&P 500 also rose, gaining, 0.58% to 7,401.17.

Leading and Lagging Sectors

Information technology shares jumped by 1.6% on Thursday.

In trading on Thursday, communication services stocks fell by 1.9%.

Top Headline

Micron Technology Inc. (NASDAQ:MU) posted better-than-expected financial results for the third quarter of fiscal 2026 and issued strong guidance for the current quarter, after the closing bell on Wednesday.

Micron reported third-quarter revenue of $41.46 billion, exceeding analyst estimates of $35.59 billion, according to Benzinga Pro. The semiconductor company posted adjusted earnings of $25.11 per share, beating analyst estimates of $20.63 per share.

Equities Trading UP
           

• Triller Group Inc (NASDAQ:ILLR) shares shot up 259% to $2.76 after the company announced its subsidiary, Trendy Reach Holdings, will acquire 3.917 million SpaceX shares through SAC1.
• Shares of Kustom Entertainment Inc (NASDAQ:KUST) got a boost, surging 73% to $2.43 after the company signed an agreement to divest its video solutions division to Cycurion for $5.5 million.
• Autozi Internet Technology (Global) Ltd (NASDAQ:AZI) shares were also up, gaining 58% to $1.80 after the company announced it signed a $5.25 million securities purchase agreement.

Equities Trading DOWN

• Digital Currency X Technology Inc (NASDAQ:DCX) shares dropped 38% to $1.00. Digital Currency X Technology entered into private placement for up to $700 million of units at $2.11 per unit.
• Shares of Paranovus Entertainment Technology Ltd (NASDAQ:PAVS) were down 31% to $0.092 after the company announced a 1-for-100 reverse share split.
• Nano-X Imaging Ltd (NASDAQ:NNOX) was down, falling 31% to $1.09 after the company announced first-quarter results.

Commodities

In commodity news, oil traded down 1.1% to $69.56 while gold traded up 0.4% at $4,025.40.

Silver traded up 0.1% to $58.170 on Thursday, while copper rose 2.1% to $6.0720.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.9%, while Spain’s IBEX 35 Index rose 0.5%. London’s FTSE 100 rose 0.9%, Germany’s DAX jumped 1%, while France’s CAC 40 gained 0.7%.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 jumping 4.61%, Hong Kong’s Hang Seng Index falling 1.43%, China’s Shanghai Composite rising 0.23% and India’s BSE Sensex gaining 0.14%.

Economics

• U.S. personal income rose by 0.7% month-over-month in May following a flat reading in April.
• U.S. personal spending increased by 0.7% month-over-month in May following a revised 0.4% gain in April.
• The core PCE price index surged by 3.4% year-over-year in May, the most since October 2023.
• U.S. initial jobless claims fell by 12,000 to 215,000 in the third week of June, compared to market estimates of 225,000.
• U.S. durable goods orders fell by 4.5% month-over-month to $332 billion in May, following a revised 8.5% gain in April.
• The Chicago Fed National Activity Index fell to –0.10 in May from a revised reading of +0.19 in April.
• The U.S. economy grew an annualized 2.1% in the first quarter, accelerating from 1.6% in the second estimate, and up from 0.5% in the fourth quarter.

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