Stock market today: S&P 500, Nasdaq eye rebound from tech rout with Micron in focus

Nasdaq 100 (NQ=F) futures roseate astir 0.4%, portion those connected the S&P 500 (ES=F) hovered supra the level line, coming disconnected steep losses for the indexes arsenic AI-focused names took a deed connected Tuesday. Contracts connected the Dow Jones Industrial Average (YM=F), which includes less tech stocks, fell 0.2%.

Worries astir lofty valuations and monolithic spending, alongside fears of coming interest-rate hikes, person prompted a question of profit-taking successful high-flying AI-linked stocks.

Micron's net are owed aft the doorbell connected Wednesday, and its results volition beryllium intimately watched arsenic Wall Street assesses conscionable however overmuch religion to enactment successful AI. Its shares person been connected a teardrop this year, rising much than 250%, but they sank 13% connected Tuesday amid the tech rout.

Late Tuesday, Cerebras posted its archetypal net study since going nationalist successful May. Shares of the AI chipmaker dropped implicit 10% successful premarket aft it forecast nett margins would lag those from rivals specified arsenic Nvidia (NVDA).

Meanwhile, uncertainty persists implicit US-Iran talks and wherever cardinal issues mightiness yet land. While President Trump had pledged the Strait of Hormuz would stay escaped of tolls, Iran and Oman person started discussing a strategy to complaint fees for ships to transverse the cardinal supply-flow waterway.

FedEx (FDX) cited rising proscription costs and the impacts of shifting commercialized argumentation for shrinking operating margins successful its after-hours net report. The transportation company, seen arsenic a bellwether for the broader economy, saw its shares descent earlier the bell.