Finance

In contrast to the broader technology slump, Micron Technology shares jumped significantly after reporting third-quarter results that far exceeded market expectations. The company provided a bullish outlook for the remainder of the fiscal year, citing a persistent shortage of memory chips and long-term contracts extending through the end of the decade. This strong performance briefly buoyed the semiconductor sector despite broader macroeconomic headwinds.

U.S. Treasury yields have declined toward multi-week lows after the latest Personal Consumption Expenditures index data aligned with economist forecasts. While annual inflation remains elevated, the lack of an upside surprise has led market participants to modestly scale back expectations for imminent aggressive interest rate hikes. The 10-year yield held steady around 4.37% as traders assessed the cooling impact of lower energy costs.

Digital assets continue to trade with a negative bias, with Bitcoin struggling to maintain the $60,000 psychological level. Major altcoins including Ethereum, XRP, and Dogecoin have experienced sharper declines as investors pivot away from speculative high-growth assets. This downturn follows six consecutive weeks of net outflows from U.S. spot Bitcoin ETFs and a broader institutional shift toward defensive positioning.