Closing Bell: Micron Delivers Robust Results Amid Market Downturn

Key Points

• Selling pressure intensified, with the Nasdaq leading declines, while Energy, Staples, and Materials outperformed amid sector rotation.
• Strong HBM demand drove revenue and EPS above expectations, with improving margins sending shares higher after hours.
• WTI crude moved higher after the U.S. announced a blockade of Venezuelan oil tankers, raising near-term supply and logistics concerns.

Markets resumed selling pressure today as the A.I. trade continued to face increased scrutiny from traders and investors. The S&P 500 (SPX) finished down 1.16%, the Nasdaq-100 (NDX) fell 1.93%, and the Russell 2000 (RUT) declined 1.07%. Energy, Consumer Staples, and Materials led the market, while Information Technology and Communication Services lagged.

Micron Exceeds Earnings Expectations

Micron reported better-than-expected earnings after the close as demand for high-bandwidth memory in data centers continued to grow. The company posted revenue of $13.64 billion, surpassing consensus estimates of $12.85 billion, and adjusted earnings per share of $4.78 compared with expectations of $3.95. Margins also improved during the quarter, reflecting stronger pricing power and disciplined expense management. Micron shares moved higher in after-hours trading.

Oil Moves Higher as U.S.–Venezuela Tensions Escalate

Late Tuesday, President Trump announced a “total and complete” blockade of sanctioned Venezuelan oil tankers, potentially impacting near-term global oil logistics—particularly for China, which purchases most Venezuela’s oil exports. WTI crude (/CL) reversed earlier weakness and moved higher on the news after recently hitting multi-year lows amid concerns over a global supply glut.

Key Market Events for Tomorrow

• 08:30 AM ET: CPI
• 08:30 AM ET: Unemployment Claims
• 08:30 AM ET: Philly Fed Manufacturing Index
• 10:30 AM ET: Natural Gas Storage

Notable Earnings for Tomorrow

• Premarket: ACN, KMX, DRI
• Postmarket: FDX, KBH, NKE

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