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New York stocks rose in early trading as Micron’s outlook supported the market, though its own shares slipped and rising oil prices tempered enthusiasm.
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Shortly after Thursday’s opening, the Dow Jones Industrial Average was up 0.5% at 51,168 points, the S&P 500 had gained 0.3% to 7,674 and the technology-heavy Nasdaq was 0.5% higher at 26,984. [1]
ANP linked the broader gains to Micron Technology’s optimistic outlook, issued after Wednesday’s market close alongside its quarterly results. The news agency reported that the memory-chip maker’s quarterly revenue had quadrupled and beaten market expectations. [1]
Micron shares nevertheless fell 1%, following a reported 270% rise so far this year. ANP said rising oil prices also tempered investors’ enthusiasm. [1]
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