Finance

Micron reported third-quarter revenue of $41.46 billion, more than quadrupling its performance from the prior year and significantly beating analyst estimates. Following the announcement of strong guidance and AI-driven demand, the company's shares climbed over 13% in extended trading sessions despite a minor dip during the regular market day.

Brent crude futures fell nearly 4% to settle below $76 per barrel, reaching their lowest marks since the start of regional hostilities with Iran. The decline is attributed to an easing of tensions in the Strait of Hormuz and a resumption of tanker traffic, which has helped cool immediate inflation fears among market participants.

The 10-year Treasury yield slipped to 4.40% as falling energy costs provided relief regarding future price pressures. Investors are now closely monitoring upcoming Personal Consumption Expenditures data, as headline inflation is currently projected to rise toward 4.1%, well above the Federal Reserve's long-term target.