US Stocks Fluctuate
US stocks fluctuate as tech volatility increases, with Apple declining and Micron rising
A new wave of tech volatility has seized Wall Street, with a selloff in megacaps dampening optimism in other parts of the stock market that have been lifted by evidence that the economy is doing well.
All of the Magnificent Seven plummeted, with Apple leading the way after raising the prices of its Mac and iPad.
The dip in the S&P 500's most prominent group caused the index to fluctuate.
That's even as a blowout forecast from Micron.
Boosted chipmakers.
In an indication of rotation, the equity benchmark's equal-weighted version, which removes market-value biases, rose.
Microsoft announced a third significant price increase for its current-generation Xbox video-game systems, highlighting the component supply situation that has driven up the cost of consumer tech items.
Qualcomm stock soared after the chipmaker predicted annual sales of more than $15 billion from artificial intelligence components in data centers by fiscal 2029.
After four days of falls, WTI crude prices climbed.
A ship was damaged by an unknown projectile in the Strait of Hormuz, just hours after several freighters turned back while attempting to traverse the critical waterway, developments that may jeopardize what had been a quick restoration of the energy hub.