Stocks Edge Higher Ahead of Micron Earnings as Oil Slump Lifts Sentiment

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Summary · why it matters

U.S. stock indexes are modestly higher as the market recovers from Tuesday's sharp selloff, with investors awaiting Micron Technology's earnings after the close to gauge AI demand. The S&P 500 is up 0.12%, the Dow Jones Industrial Average is up 0.21%, and the Nasdaq 100 is up 0.06%. Homebuilders and building suppliers are climbing after Congress passed the 21st Century Road to Housing Act, with KB Home up more than 16% and Builders Firstsource up more than 9%. Airline and cruise stocks are also gaining as WTI crude oil drops more than 3% to a 3.5-month low, reducing fuel costs. Mining stocks are retreating as gold, silver, and copper prices fall to multi-month lows. The 10-year Treasury yield is down 7.5 basis points to 4.422%, supported by the oil-driven decline in inflation expectations.

Impact on assets 27

Consumer Discretionary▲ · 8 stocks
KB Home
KBH
▲ PositiveDemandrelevance

Congress passed the 21st Century Road to Housing Act, boosting homebuilders and building suppliers.

Industrials▲ · 8 stocks
Critical Materials & Supply Chain▲ · 4 stocks
Climate Adaptation & Water▲ · 1 stocks
Builders FirstSource Inc
BLDR
▲ PositiveDemandrelevance

Congress passed the 21st Century Road to Housing Act, boosting homebuilders and building suppliers.

Semiconductors▲ · 1 stocks
Micron Technology Inc
MU
± MixedCapitalrelevance

Investors await Micron's earnings after the close to gauge AI demand; outcome unknown.

Energy Transition & Power Demand▲ · 1 stocks
Smart City / Autonomous Infrastructure▲ · 1 stocks
Financials▲ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Others▲ · 1 stocks
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