US Opening Bell | Stocks open higher; Micron Technology rises after upbeat outlook; Semiconductor shares climb

Market

June 24, U.S. stocks opened higher. The Dow Jones Industrial Average added 0.06%, the S&P 500 advanced 0.29%, and the Nasdaq Composite gained 0.33% as upbeat chip results and firm futures set a positive early tone.

Broadcom jumps 2.01% after raising full-year guidance and touting faster AI-server chip shipments; Micron Technology climbs 1.31% on a stronger revenue forecast; Alphabet adds 1.05% after unveiling new Gemini-powered search tools; NVIDIA gains 0.68% as GPU demand remains robust; Tesla Motors edges up 0.31% on record China deliveries. On the downside, Qualcomm falls 3.32% amid reports Apple may accelerate in-house modem plans; SPDR Gold ETF slips 2.92% as bullion retreats; MicroSectors Gold Miners 3x Leveraged ETN drops 9.24% in leveraged selling; Cerebras Systems dives 11.71% after wider-than-expected losses.

Wendy's soars 33.97% on buyout speculation; Direxion Daily MSCI South Korea Bull 3x Shares leaps 8.86% after upbeat Korean export data; Gulf Resources rallies 7.54% on higher bromine prices; UTStarcom rises 6.82% amid small-cap telecom rotation; Canadian Solar adds 4.24% after securing a large U.S. utility-scale contract.

News

Micron Technology beats estimates and lifts guidance. The memory maker topped fiscal-quarter expectations and forecast stronger margins as AI server demand accelerates.

Broadcom raises full-year outlook on AI chip strength. Management cited robust orders from hyperscale customers, boosting confidence in double-digit revenue growth.

Federal Reserve signals patience on rate cuts. Chair Powell said inflation progress is “encouraging but not enough,” keeping the door open for action later this year.

Jobless claims jump to 260k. The surprise rise to an eight-month high suggests a cooling labor market and eased wage pressures.

Wendy's explores strategic alternatives. The fast-food chain confirmed inbound takeover interest, sending the stock sharply higher.

Alphabet launches new Gemini tools for Android developers. The move could deepen ecosystem lock-in and expand monetization opportunities.

Tesla Motors begins European Cybertruck deliveries. Early shipments fuel optimism for premium mix and margin upside.

Qualcomm weighed down by Apple modem chatter. Reports that Apple may fast-track its own 5G chips raised competitive concerns.

SPDR Gold ETF extends slide as bullion weakens. A firmer dollar and stabilizing rate expectations reduced safe-haven demand.

United Microelectronics boosts capex by 25%. The foundry is expanding capacity to meet surging AI chip orders, lifting its ADRs.