Micron Technology is set to report fiscal third-quarter results after the close on Wednesday, with Wall Street looking for earnings of $20.76 per share on $35.75 billion in revenue. An analyst said Micron’s outlook for DRAM, NAND and high-bandwidth memory (HBM) will influence how aggressively memory makers expand capacity, which can flow through to demand for ASML’s EUV and ArFi lithography tools. ASML is not a memory-chip maker, but its systems are a key step in producing advanced memory chips. ASML shares are up 52.82% year to date, while Micron is ranked in the 99th percentile for Momentum.

Brent crude futures slid 1.8% to $75.71 a barrel on June 24, their lowest level since February 27, while WTI fell 1.5% to $72.13, the weakest since March 3. The drop followed a U.S.-Iran ceasefire deal and signs shipping through the Strait of Hormuz is normalising, including three very large crude carriers transiting, alongside a 60-day U.S. sanctions waiver for Iran that boosted expectations Iranian crude could return to the market within weeks. U.S. crude inventories fell by 765,000 barrels, according to API data, but the drawdown did little to offset expectations of looser supply conditions.

Crypto markets are stabilizing after BTC slid in tandem with tech stocks. ETH USD continued to frustrate traders by underperforming expectations. The moves underscore how Bitcoin and Ethereum are increasingly trading like high-beta tech assets.

Markets are bracing for the Personal Consumption Expenditures Price Index, with economists expecting it to rise to 4.1%, well above the Federal Reserve’s 2% target. CME Group’s FedWatch tool shows traders have sharply raised the odds of a second rate hike by the Fed by the end of December. The shift has reinforced expectations for higher rates and kept pressure on richly valued technology stocks, leaving Nasdaq futures struggling to rebound while Dow futures turned lower. Micron’s after-hours earnings are expected to be strong, but analysts say the stock’s pattern of post-earnings declines may do little to ease broader valuation concerns in tech.

U.S. stock index futures diverged in early trading, with Nasdaq 100 E-minis up 0.48% as investors returned to technology shares after a sharp selloff. Chip names were in focus, with Micron Technology rising premarket as markets looked ahead to its earnings and weighed concerns about whether gains can extend after prior post-results declines. AI-chip sentiment was hit after Cerebras Systems cut its full-year profit-margin outlook in its first report since going public. A firmer dollar and rising rate expectations ahead of the PCE inflation reading weighed on commodities, pushing gold toward a two-week low while oil extended losses by more than 1%.

Robinhood said it has completed a $2 billion private offering of 0% convertible senior notes, with part of the proceeds earmarked for share repurchases and capped call transactions. Bernstein raised its forecast for Robinhood’s prediction-market revenue to $586 million in 2026, while the company also completed a $180 million acquisition of Canada-based crypto platform WonderFi. The combination has reinforced Robinhood’s positioning as a more diversified fintech platform, helping weaken its price linkage with Bitcoin and supporting the stock above $100.

Donald Trump said in a Truth Social post that retail gasoline prices have not fallen as quickly as crude oil, and he has instructed the Department of Justice to investigate energy companies. Crude oil futures fell 1.76% to $71.92 per barrel, raising the risk of policy intervention in how price declines are passed through to consumers. The directive is a sudden regulatory move aimed directly at energy pricing behavior, creating a tangible hit to profit certainty across the oil and gas value chain.

Norwegian Cruise Line (NCLH) sharply lowered its fiscal 2026 adjusted EPS guidance to $1.45–$1.79 on May 4, citing Middle East tensions that lifted expected annual fuel costs to $782 per metric ton. The company also pointed to softer demand for European itineraries and execution missteps that led to shorter Caribbean sailings and bookings below expectations. Although Q1 EPS of $0.23 beat forecasts, revenue of $2.33 billion missed estimates. The stock fell 8.6% on the day and is down 8.7% year to date, significantly trailing the S&P 500.