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Sign InIn a volatile session, markets are moving in contrasting directions between tech sector pressures and the return of geopolitical risks in oil markets. Micron indicated a reset in the AI memory trade, reassessing expectations in the chip industry. Apple also showed the cost side of the AI boom, highlighting the pressures facing major tech companies.
On another front, oil risk through the Strait of Hormuz has returned to the forefront, potentially supporting energy prices. Today's Friday session is expected to see a loud close with the Russell rebalance, a major liquidity driver. In this context, major tech stocks closed at mixed levels: Google (GOOGL) at $341.66, Meta (META) at $554.17, and Microsoft (MSFT) at $370.10, per market data.
As for Apple (AAPL), the stock closed at $275.57 on June 26, trading in a range between $274.21 and $280.47. Traders are watching geopolitical developments in the Middle East and their impact on the oil sector, as well as upcoming tech earnings reports. The Russell rebalance could also drive volume volatility in the final minutes of the session.