[New York Stock Market] Brent Crude Falls Below $75 for First Time Since War...All Indices Rise

Awaiting Micron Earnings Release
Tech Stocks Seek a Rebound

On June 24 (local time), all three major U.S. stock indices began the session with mixed movements but are now trading higher. Buying momentum has strengthened, supported by a decline in oil prices while investors await Micron's earnings announcement.

As of 9:15 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average is up 56.10 points (0.10%) at 51,722.94. The S&P 500 Index, which tracks large-cap stocks, has risen 27.45 points (0.37%) to 7,392.91, while the Nasdaq Composite, which is heavily weighted with technology stocks, is down 133.77 points (0.52%) at 25,720.81.

Inside the New York Stock Exchange. New York, USA – Special Correspondent Yoonju Hwang

The market today is showing renewed investor appetite for risk assets amid falling international oil prices. This is because, for the first time since the outbreak of the Iran war, the price of Brent crude has dropped below 75 dollars per barrel.

At this time, West Texas Intermediate (WTI) crude oil on the New York Mercantile Exchange is down 4.33% from the previous session, trading at 70.07 dollars per barrel. On the ICE Futures Exchange, Brent crude has fallen 4.46% from the previous session, standing at 73.66 dollars per barrel.

Technology stocks are showing mixed performance. Micron is down 0.28%, Qualcomm has fallen 4.65%, Intel is down 0.51%, and Applied Digital is off 5.35%. On the other hand, Nvidia is up 0.29%, Apple has increased 0.44%, Microsoft is up 0.34%, Amazon has gained 1.41%, and Alphabet is up 0.92%.

The market is paying close attention to Micron's earnings release scheduled after the close. According to FactSet, analysts expect earnings per share of 20.83 dollars and revenue of 35.75 billion dollars.

Jay Woods, chief market strategist at Freedom Capital Markets, warned that the share price could fall after the earnings announcement. Woods analyzed, "The price could drop to 1,000 dollars. That may sound like a sharp decline, but if it starts to align with the 20-day moving average, traders will be watching closely."

Rick Gardner of RGA Investments said, "When stock prices rise too much, too quickly, a correction almost always follows. I much prefer buying tech stocks on days when prices have fallen. Corrections can still offer opportunities to investors who have not invested enough in this sector, which maintains solid fundamentals."

This content was produced with the assistance of AI translation services.