Wall Street Ends Flat as Tech Slips, Broader Market Gains
The S&P 500 closed unchanged as megacap tech stocks fell while broader equities advanced. Micron surged on a strong outlook, and oil rose on Strait of Hormuz security concerns.
U.S. equities finished mixed on the day. The S&P 500 ended flat as losses in megacap technology names offset gains among the broader market. All seven Magnificent Seven stocks declined, with Apple leading the drop after raising prices on Mac and iPad models.
Chipmaker Micron surged following a blowout forecast, reinforcing optimism around AI-driven demand and boosting the semiconductor sector. Separately, Qualcomm jumped after projecting over $15 billion in AI data center revenue by 2029.
In the energy space, WTI crude rose 2.6% to $72.15 after a shipping security incident in the Strait of Hormuz. Meanwhile, resilient U.S. consumer spending and GDP data pointed to a still-strong economy.
Source: First Squawk