Stock market today: Live updates
A trader works on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures were mixed early Wednesday as traders looked ahead to the release of Micron Technology‘s earnings.
S&P 500 futures and Nasdaq 100 futures added 0.24% and 0.61%, respectively. Futures tied to the Dow Jones Industrial Average fell 52 points, or roughly 0.1%.
Shares of Micron rose 4.5% in premarket trading, and Sandisk was up 3.4%. The two memory stocks tumbled 13% in the previous session. The Roundhill Memory ETF (DRAM), down 14% in the regular session, moved 4.7% higher in premarket trade.
Alphabet also traded marginally higher after S&P Global said the Google parent would join the 30-stock Dow ahead of trading next Monday.
A rout in the technology sector dragged the S&P 500 and tech-heavy Nasdaq Composite lower on Tuesday, with the averages losing 1.44% and 2.21%, respectively. The blue-chip Dow Jones Industrial Average shed 45.87 points, or 0.09%.
Asia-Pacific markets closed mixed as regional technology rebounded after Wall Street’s sell-off. Japan’s Nikkei 225 declined 0.88% to 69,174.97, while South Korea’s Kospi jumped more than 3% in volatile trading to 8,471.02, recovering from a 10% decline on Tuesday.
In Australia, the S&P/ASX 200 ended the session 0.24% higher at 8,808.4. Hong Kong’s Hang Seng index rose 0.36% to 23,420.4, while the mainland CSI 300 was up 0.48%, ending the trading day at 4,943.02.
Investors sold off semiconductor-adjacent stocks in Tuesday’s session, with the VanEck Semiconductor ETF (SMH) ending the day 7% lower. Intel fell 6%, and Qualcomm shed 8%. Traders rotated into more defensive names, lifting Walmart nearly 2% and boosting tech stalwart IBM 5%.
Arguments around technical positioning exhaustion “may be true, but I would argue there might be some fundamental risk emerging as well,” said Dan Skelly, head of market research and strategy at Morgan Stanley Wealth Management, on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.
“We’ve heard about pricing wars among some of the model builders, we’ve heard about rental prices for old GPUs starting to decline, and we’ve also seen a shift in tone from Microsoft, who led the AI launch three years ago with ChatGPT and their partnership with Open AI,” he added. “Microsoft [is] now talking about a change in strategic direction for lower-cost models.”
Micron will report its latest earnings after the market closes on Wednesday. Analysts polled by FactSet see earnings of $20.83 per share on revenue of $35.75 billion.
Micron has had an astronomical run in 2026, with shares hitting a new all-time high on Monday and ending Tuesday at $1,051.77 per share. But Jay Woods, chief market strategist at Freedom Capital Markets, warned the stock could fall after the earnings report.
It might go “down to $1,000. That’s going to sound like a big drawdown, but it’s something that traders will be watching as it starts to get in line with this 20-day moving average,” he said.
Paychex will report earnings before Wednesday’s opening bell. Investors will also watch for building permits and new home sales readings for May.
