US close: Stocks mixed as crude prices fall, Micron earnings beat expectations

(Sharecast News) - Major indices delivered a mixed performance on Wednesday amid falling crude price and better-than-expected quarterly earnings from chipmaker Micron Technology after the close.

At the close, the Dow Jones Industrial Average was up 0.35% at 51,732.84, while the S&P 500 shed 0.10% to 7,358.22, and the Nasdaq Composite saw out the session 0.43% weaker at 25,476.64.

The Dow closed 182.06 points higher on Wednesday, reversing losses recorded in the previous session.

Wednesday's primary focus was earnings from Micron Technology after the close, with the chipmaker posting a sharp jump in revenue in its fiscal third quarter as demand tied to the artificialintelligence boom continued to surge. Revenues came in at $41.46bn, more than quadruple the $9.3bn reported a year earlier and well ahead of the $35.84bn expected, while adjusted earnings per share were $25.11, beating forecasts of $20.78 each.

For the current quarter, Micron guided to revenue of around $50bn, compared with $11.3bn a year ago and above analysts' expectations of $43.58bn. Micron continues to benefit from soaring memory prices as AI accelerators consume much of the industry's production capacity. Rising datacentre demand has also pushed up prices for memory used in smartphones, laptops and other devices.

On the macro front, US mortgage applications edged up 1% in the week ended 21 June, partially reversing the prior week's 3.8% decline, according to the Mortgage Bankers Association. Applications to refinancing a mortgage, which are more sensitive to shortterm interest rate moves, rose 3% on the week, while applications to purchase a home slipped by less than 1%, continuing a subdued trend amid high borrowing costs and tight supply.

On another note, US new home sales fell in May, according to the Census Bureau, slipping to an annualised rate of 580,000. The reading was 7.3% below April's 626,000 pace and 6.8% lower than a year earlier. The number of new houses for sale rose to 496,000, up 2.3% on the month but 1.4% below May 2025. The median sales price of a new home increased to $424,900, around 2% higher than April and broadly unchanged from May 2025.

Oil prices were also in focus on Wednesday, with crude extending its recent slide as international benchmark Brent crude dropped 5.10% to $73.15 a barrel - its lowest level since before US and Israeli airstrikes on Iran in late February - and West Texas Intermediate fell 3.92% to trade at $70.34 a barrel.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Home Depot Inc. (HD) $342.86 5.67%

3M Co. (MMM) $165.91 2.51%

Boeing Co. (BA) $220.25 1.63%

American Express Co. (AXP) $342.56 1.42%

Travelers Company Inc. (TRV) $320.74 1.19%

Visa Inc. (V) $332.23 1.14%

Cisco Systems Inc. (CSCO) $119.73 1.14%

Caterpillar Inc. (CAT) $994.45 1.04%

Merck & Co. Inc. (MRK) $120.60 0.84%

McDonald's Corp. (MCD) $273.88 0.82%

Dow Jones - Fallers

Dow Chemical Co. (DOW) $29.38 -3.13%

Chevron Corp. (CVX) $171.45 -2.57%

Walt Disney Co. (DIS) $101.12 -2.33%

Verizon Communications Inc. (VZ) $45.68 -2.25%

Microsoft Corp. (MSFT) $365.46 -2.24%

Goldman Sachs Group Inc. (GS) $1,076.91 -1.60%

Nike Inc. (NKE) $41.82 -1.32%

Apple Inc. (AAPL) $293.08 -1.27%

Unitedhealth Group Inc. (UNH) $405.80 -0.84%

International Business Machines Corporation (CDI) (IBM) $262.96 -0.75%

S&P 500 - Risers

United Airlines Holdings Inc (UAL) $130.54 11.18%

Fortune Brands Innovations, Inc. (FBIN) $44.65 9.84%

Mohawk Inds Inc. (MHK) $119.09 9.60%

Expedia Group Inc. (EXPE) $262.15 9.26%

American Airlines Group (AAL) $17.44 9.24%

Booking Holdings Inc. (BKNG) $181.25 8.85%

Illumina Inc. (ILMN) $175.09 8.41%

IQVIA Holdings Inc. (IQV) $185.62 8.37%

Kohls Corp. (KSS) $18.91 7.87%

PulteGroup Inc. (PHM) $135.71 7.24%

S&P 500 - Fallers

Flowserve Corp. (FLS) $72.93 -8.81%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Helmerich & Payne Inc. (HP) $32.76 -7.95%

CME Group Inc. (CME) $231.68 -6.67%

Microchip Technology Inc. (MCHP) $92.48 -5.83%

CH Robinson Worldwide Inc (CHRW) $177.28 -5.68%

Lincoln National Corp. (LNC) $36.23 -5.13%

QUALCOMM Inc. (QCOM) $197.41 -4.89%

Oracle Corp. (ORCL) $157.53 -4.62%

Jefferies Financial Group Inc. (JEF) $57.94 -4.26%

Nasdaq 100 - Risers

Expedia Group Inc. (EXPE) $262.15 9.26%

American Airlines Group (AAL) $17.44 9.24%

Booking Holdings Inc. (BKNG) $181.25 8.85%

Illumina Inc. (ILMN) $175.09 8.41%

Dollar Tree Inc (DLTR) $119.35 5.84%

Mercadolibre Inc. (MELI) $1,659.57 5.80%

Charter Communications Inc. (CHTR) $131.42 4.91%

Henry Schein Inc. (HSIC) $82.82 4.69%

Verisk Analytics Inc. (VRSK) $180.06 4.54%

Starbucks Corp. (SBUX) $103.53 3.91%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Microchip Technology Inc. (MCHP) $92.48 -5.83%

QUALCOMM Inc. (QCOM) $197.41 -4.89%

JD.com, Inc. (JD) $25.48 -4.17%

KLA-Tencor Corp. (KLAC) $240.48 -4.14%

Skyworks Solutions Inc. (SWKS) $71.40 -3.81%

Cadence Design Systems Inc. (CDNS) $372.40 -3.52%

Tesla Inc (TSLA) $375.53 -3.48%

Texas Instruments Inc (TXN) $303.11 -3.44%

Take-Two Interactive Software Inc. (TTWO) $235.77 -3.33%