Wall Street Mixed as Tech Slide Offsets Dow's Oil-Powered Gain

U.S. stocks closed mixed on June 24, with the Dow Jones rising 0.35% to 51,848.90, while the S&P 500 fell 0.10% and the Nasdaq dropped 0.43%, as a renewed tech sell-off on AI spending fears offset gains in airline and industrial stocks driven by falling oil prices. Micron Technology recovered in after-hours trading after beating revenue and forecast expectations, and corporate bond issuance hit a June record of $175 billion, led by Nvidia and SpaceX.

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Dow Rises on Falling Oil as Tech Drags Nasdaq Lower Again The Dow Jones Industrial Average climbed 182 points as a plunge in crude prices—Brent fell 4.3% to $73.74—boosted airlines and travel stocks, while the Nasdaq Composite lost 0.43% as Microsoft, Oracle, and chipmakers extended losses on concerns over AI valuations and potential Fed rate hikes. 1 2 3 4

Micron Beats Earnings, Rallies After-Hours After Pre-Report Slump Micron Technology fell 0.3% in regular trading but surged in extended trading after reporting quarterly revenue and guidance that topped analyst estimates, citing robust AI server memory demand and a shortage of high-bandwidth memory (HBM). Cerebras Systems plunged 19.6% on a downbeat margin forecast, and OpenAI announced its own inference chip, adding to sector jitters. 5 6 7

Nvidia and SpaceX Drive Record $175 Billion June Bond Issuance U.S. investment-grade corporate bond sales reached a June record of about $175 billion, roughly 60% higher than the same month last year, as Nvidia and SpaceX each sold $25 billion in debt to fund AI infrastructure buildouts. The surge underscores technology companies' growing reliance on debt markets despite elevated interest rates, with investor demand remaining strong. 8