News Bulletin
Wednesday, June 24, 2026
Morning Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Wednesday, June 24, 2026
10:00	New Home Sales (May)		638K	622K
10:00	New Home Sales (MoM) (May)			-6.20%
10:30	Crude Oil Inventories		-3.900M	-8.263M
10:30	Cushing Crude Oil Inventories			-1.606M
13:00	5-Year Note Auction			4.18%

Indices

	CLOSE	50 DMA	200 DMA
DJIA	51,666.84	50,085.09	48,215.64
NASDAQ	25,587.04	25,619.27	25,673.16
S&P 500	7,365.47	7,351.87	6,917.61

Earnings Calendar:

(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC: After Market Close)

COMPANY	EPS Act	EPS Fore	Rev Act	Rev Fore	Mkt Cap	Time
Micron TechnologyMU:US		10.81		22.51B	$511.31B	PM
PaychexPAYX:US		1.34		1.62B	$33.59B	AM
MillerknollMLHR:US		0.61		993.2M	$1.09B	PM
Methode ElectronicsMEI:US		-0.09		244.04M	$496.20M	PM

Market News:

S&P and Nasdaq futures rose on Wednesday, after a bruising selloff in technology and chipmaking shares over the last two sessions.

Upcoming earnings from memory chip major Micron are set to provide more cues on the artificial intelligence trade.

S&P 500 Futures rose 0.16% to 7,377 points by 0551 ET (0951 GMT). Nadaq futures NQU26 rose 0.37% 29,771.50 points, while Dow YMU26 fell 0.19% to 52,054 points.

Micron tumbles, Q3 earnings on tap

Memory chip maker Micron Technology Inc (NASDAQ:MU) slid 13.2%, tracking losses in its South Korean peers. The company is among the largest memory chip makers in the world, along with Samsung and SK Hynix.

Shares rose 3.5% in aftermarket trade.

Micron is set to report its fiscal third-quarter earnings after the bell. The print will be closely watched for more cues on AI-driven demand for memory, which has provided a major windfall to Micron and its peers over the past year.

But the earnings come amid investors holding lofty expectations for Micron’s guidance.

Micron is expected to post earnings per share of $19.92 on revenue of $34.66 billion for the three months ended May, according to Investing.com data.

Wall St slammed by tech wipeout; Chips worst hit

A sharp two-day liquidation across Wall Street benchmarks has exposed fractures in the artificial intelligence trade, as investors aggressively unwind crowded positions amid stretched valuations and a higher-for-longer Federal Reserve outlook.

The reversal marks a turning point for the tech-heavy indexes, which had previously demonstrated remarkable resilience, scaling record highs even as markets navigated the geopolitical fallout of a three-month war with Iran.

However, that momentum has rapidly given way to an multi-theater tech rout as the market confronts a painful math problem: whether explosive corporate growth can outpace the friction of sustained restrictive monetary policy.

Tech mega-caps have seen their earnings multiples balloon to historical extremes, leaving absolutely no margin for error just as their capital expenditure bills come due.

With the Fed poised to keep borrowing costs elevated - CME FedWatch data currently implies 50 basis points of further tightening by year-end, including a 40% probability of a July hike - the financial burden of funding the AI arms race has grown heavier.

For these cash-hungry tech giants, which rely on issuing debt to bankroll their blowout infrastructure spending, rising yields, in theory, could erode their long-term valuation models, and could promt an institutional scramble to de-risk before the next corporate earnings cycle.

The Philadelphia Semiconductor Index sliding nearly 8% on Tuesday. The tech-heavy NASDAQ Composite slid 2.2% on Tuesday. The S&P 500 shed 1.4%, while the Dow Jones Industrial Average fell 0.1%.

Losses in the Dow were limited by investors pivoting into non-tech sectors such as financials, utilities, and healthcare.

PCE, GDP data waited for more cues on rates

Focus this week also will be squarely on upcoming PCE price index data for May, which is due on Thursday.

The print is the Federal Reserve’s preferred reading and is widely expected to factor into the central bank’s plans for interest rates.

A final reading on first quarter gross domestic product is also due on Thursday and is expected to reflect some headwinds from the U.S.-Iran war, which began in late-February.

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