S&P +0.9%. Intel +10.64%. Iran peace deal signed. Oil sub-$80. Micron earnings Wednesday — here’s what to watch. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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Intel Jumped 10%. An Iran Deal Sent Oil Below $80. Micron Reports Wednesday.
By The Numbers
- 0.9%. The S&P 500 gained this much last week — its 11th positive finish in the past 12. The index is up roughly 9.5% year-to-date.
- 10.64%. Intel's (INTC) single-session jump after Trump announced an Apple-Intel US chip manufacturing partnership. The Philadelphia Semiconductor Index closed at an all-time record.
- $80. Where oil dropped after the U.S. and Iran signed a peace deal Thursday. First time crude closed below $80 since early March. Energy's geopolitical risk premium came out of the price.
- 1.9%. The Nasdaq's gain for the week, closing at 26,517. The Dow ended the week at 51,564, up 1.6% for four trading days.
- 930%. Expected year-over-year earnings growth for Micron (MU) when it reports Q3 results Wednesday. HBM memory demand is driving the largest profit surge in the company's history.
The BriefLast week was a four-day trading week, with markets closed Thursday for Juneteenth, but it packed in plenty. The S&P 500 gained 0.9% for its 11th winning week in the past 12. Intel led the session Monday after Trump announced an Apple-Intel chip manufacturing partnership, surging 10.64% and pulling the Philadelphia Semiconductor Index to a record high. By Thursday, the U.S. and Iran signed a peace deal, sending crude oil below $80 a barrel for the first time since early March. The Nasdaq finished the week up 1.9% to 26,517. Everything reopens this week with a packed calendar: Micron reports Q3 earnings after the close Wednesday, and the week ends with PCE inflation data Thursday. Start with Micron.
Stock of the Week Micron Technology (MU)
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