Finance

Despite a slight dip during regular trading hours, Micron Technology shares surged in extended trading after reporting quarterly results and guidance that exceeded analyst expectations. This rebound helped stabilize the tech sector, which had faced pressure earlier in the week due to concerns over the massive costs associated with artificial intelligence infrastructure.

Brent crude prices dropped nearly 4% to approximately $73.74 per barrel, approaching levels seen before the conflict with Iran began. This decline is attributed to improved tanker traffic through the Strait of Hormuz and has helped temper immediate concerns regarding energy-driven inflation spikes.

In the first meeting led by new Chair Kevin Warsh, the Federal Open Market Committee held the federal funds rate steady at a range of 3.50% to 3.75%. While the pause was expected, updated economic projections indicate a more hawkish outlook among officials, with many now anticipating at least one additional rate hike before the end of 2026.