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...
While most of the financial world had its eyes on Thursday's Trump-Xi summit, a quieter but arguably bigger story was unfolding in the bond market. The 30-year U.S. Treasury yield spiked to its highest level since 2007 this week, and 10-year yields aren't far behind. If that sounds like something only Wall Street traders need to care about, it isn't this single number quietly touches mortgages, loans, FDs, and even how attractive stocks look right now, whether you're sitting in New York or Mumbai. What Actually Happened Treasury yields essentially the interest rate the U.S. government pays to borrow money have been climbing steadily for weeks, but this week's move pushed the 30-year yield past levels last seen almost two decades ago. A few forces converged at once: a weak government debt auction (meaning investors demanded higher returns to keep buying U.S. debt), rising oil prices reigniting inflation worries, and at least one Federal Reserve official openly push...