Wall Street is heading into the close on Wednesday with two things on its mind: the Fed's favorite inflation gauge and Micron Technology. According to Bloomberg, US stocks paused ahead of both, with the inflation data key for interest rates and Micron's report key for the AI trade. Micron reports fiscal fourth-quarter results after the closing bell, and a big move in either direction could ripple into Asian chip stocks when markets open in the morning. The Numbers, Verified Across Sources What Micron guided (SEC filing): For the quarter ending in August, Micron told investors to expect revenue of $50 billion, give or take $1 billion, non-GAAP earnings of $31 per share, give or take $1, and a gross margin of about 86%. What analysts expect (Alphastreet, 33 analysts): Consensus sits at $31.56 per share on $51.20 billion in revenue, slightly above the top half of Micron's own guidance range. Estimates are wide, running from $28.04 to $37.44 per share for earnings and from...
Wall Street closed lower on Monday, and futures pointed to more losses on Tuesday. This time, it isn't just a U.S. story. Markets across Asia fell right alongside it, tied together by the same culprit that's driven most of this month's volatility: Treasury yields. The Numbers, Verified Across Sources Monday's close (confirmed by CNBC and Yahoo Finance): The Dow Jones Industrial Average fell about 0.7% to 51,481.51. The S&P 500 dropped roughly 0.8% to 7,683.69. The Nasdaq Composite lost about 0.9%, closing at 26,820.38. Tuesday's early picture (CNBC): Dow futures were down 0.23%, S&P 500 futures fell 0.2%, and Nasdaq-100 futures declined 0.42% ahead of the open, as investors tried to recover from Monday's session. Treasury yields (confirmed by Bloomberg and Yahoo Finance): The 10-year yield climbed to roughly 5.26-5.27%, a fresh 19-year high. The 30-year yield pushed to around 5.55%, according to Bloomberg. Index Region Move Dow Jones U...