Finance

Micron Technology's shares soared over 15% following a robust earnings report and positive revenue guidance, which provided a lift to other semiconductor firms like Applied Materials and Western Digital. However, this strength was countered by significant losses in major tech players, including Apple, which saw a 6.1% drop after announcing price hikes to manage rising component costs.

The cryptocurrency market is navigating a major derivatives event with approximately $11 billion in Bitcoin and Ether options set to expire on June 26, 2026. This significant expiry, coupled with Bitcoin prices recently dipping toward multi-year lows near $58,000, has led to increased demand for downside hedging and heightened concern among traders regarding short-term stability.

Recent May PCE inflation data arrived slightly below economist expectations, helping to ease concerns over aggressive Federal Reserve rate hikes and lowering Treasury yields. Simultaneously, a fragile reopening of the Strait of Hormuz has allowed oil prices to retreat from wartime peaks, though market participants remain cautious following reports of recent projectile attacks on cargo vessels.