The Nasdaq Composite rose 91.99 points, or 0.36%, to close at 25,568.63 on Thursday, recovering from earlier in the week’s turbulence as memory chip giant Micron Technology delivered a blowout earnings report that reignited optimism around AI infrastructure spending.

Micron’s Earnings Spark a Rally

Stock futures climbed Thursday, boosted by Micron’s blowout earnings report, as Wall Street also monitored the release of the Federal Reserve’s preferred inflation gauge. Micron crushed Wall Street expectations in its fiscal third-quarter results, driven by strong demand and pricing for memory chips used in artificial intelligence data centers.

That result followed a remarkable run for the stock throughout 2026. 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, even after Tuesday’s broader chip-sector selloff had pushed shares down sharply heading into the earnings report.

A Volatile Week Leading Up to Thursday

Thursday’s gains came after a genuinely turbulent stretch for technology stocks earlier in the week. The Nasdaq Composite pulled back on Wednesday as Micron Technology shares fell, with investors looking ahead to the release of the chipmaker’s earnings after the bell. The tech-heavy index slipped 0.43% to end at 25,476.64, while the S&P 500 declined 0.10% to 7,358.22. The Dow Jones Industrial Average added 182.06 points, or 0.35%, to end at 51,848.90.

That followed an even sharper decline earlier in the week. The Nasdaq (-2.21%) and S&P 500 (-1.44%) faced losses Tuesday as a global rout in technology stocks weighed on major indexes, with most of those declines driven by fears about the high-flying semiconductor sector. The selling started before the day even began, as South Korea’s chip-heavy KOSPI index fell nearly double digits on the day.

Falling Oil Prices Provided an Offsetting Tailwind

Beyond the chip-sector volatility, easing energy prices have continued supporting the broader market throughout the week. Oil prices continued their decline Wednesday. International benchmark Brent crude futures lost 4.33% to settle at $73.74 per barrel, seeing its lowest level since before the U.S. and Israel first launched airstrikes against Iran at the end of February. U.S. West Texas Intermediate futures slid 3.92% to settle at $70.34 a barrel.

President Donald Trump said Wednesday that Iran has informed him there will be no tolls, insurance costs, or other charges for commercial ships passing through the Strait of Hormuz, adding further reassurance to markets already encouraged by the declining oil prices.

A Notable Senate Vote on Iran War Powers

Beyond the market-moving economic data, a significant political development unfolded in Washington late Wednesday tied to the broader Iran situation. Republican senators switched their votes on an Iran war powers resolution late Wednesday, hours after a contentious meeting that reportedly included a heated exchange with President Trump over opposition to the measure. Senators Bill Cassidy of Louisiana and Rand Paul of Kentucky had previously voted to advance the resolution, which would have given Congress the ability to block U.S. military action in Iran, but both ultimately withdrew their support following a closed-door lunch at the White House.

Alphabet Set to Join the Dow

In a significant index-composition development, Alphabet will replace Verizon in the Dow Jones Industrial Average, S&P Global said Tuesday, further expanding mega-cap technology’s presence in the blue-chip average. The change reflects the continued growth of Alphabet’s market value relative to Verizon’s, even as Alphabet itself shed earlier gains to close down 0.2% on Wednesday after the announcement.

JPMorgan Announces Major Leadership Changes

Beyond the market-wide moves, JPMorgan Chase promoted two senior executives into newly created co-president roles, marking another step in CEO Jamie Dimon’s long-running succession planning. Doug Petno and Troy Rohrbaugh, who have jointly led the bank’s commercial and investment banking division since 2024, were named co-presidents effective immediately. Petno will become CEO of the commercial and investment banking division, while Rohrbaugh will lead consumer and community banking, replacing Marianne Lake, a 25-year JPMorgan veteran who will retire from the company.

SpaceX Continues Its Volatile Post-IPO Trading

Among the most closely watched individual stocks this week has been SpaceX, which completed the largest initial public offering in history on June 12, raising $75 billion through the sale of 555.5 million shares at $135 each. SpaceX inched up Wednesday and managed to close above its IPO price of near $150, though it was down more than 1.5% Thursday morning. The wild swings so far partially reflect news of a $25 billion debt sale that, according to Bloomberg, met a “skeptical audience” in the bond market, judging by its premium pricing.

Gold Falls Below $4,000 for the First Time in Months

Beyond equities, the broader market turbulence has also weighed heavily on precious metals prices this week. Gold futures with August delivery dipped below $4,000 for the first time in seven months, deepening their downturn amid the broader stock market slump, with the metal last trading around $3,987.30 — marking its first time below the $4,000 level since November 18, 2025.

Volatility Gauge Spiked Amid the Tech Selloff

The week’s turbulence in technology stocks was reflected clearly in broader market volatility measures. The Cboe Volatility Index jumped nearly 13% to 19.49 on Tuesday, while tech volatility rose more sharply than broad-market volatility, suggesting investors were specifically hedging against a technology-led shakeout even as the broader market showed more resilience.

What’s Ahead This Week

With Thursday’s session benefiting from Micron’s strong results, attention now turns to additional economic data due before the week concludes. May Personal Consumption Expenditures price data, the Federal Reserve’s preferred inflation gauge, along with the final estimate of first-quarter GDP and May durable goods orders, were all scheduled for release Thursday, with the University of Michigan’s final June consumer sentiment reading set to follow Friday.

With markets having weathered a sharp chip-sector selloff earlier in the week before rebounding on Micron’s blowout results, investors will be watching closely for confirmation that this week’s volatility reflected temporary profit-taking on crowded AI and semiconductor positioning rather than a more fundamental shift in sentiment toward the broader technology trade. Given the S&P 500’s technology sector had climbed 27% over the prior three months heading into this week’s turbulence, market participants will likely continue monitoring whether Thursday’s recovery can be sustained into next week, particularly as additional inflation data and any further developments in the Iran situation continue to shape the broader macro backdrop for risk assets.

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Caroline Bentham, 37, who has lived with her mother Mary in Yorkshire for nearly seven years, says the experience has been really positive – although she “never imagined this would be me in my 30s”.

She split from her partner in 2019 and was only supposed to live with her mum for six to 12 months while she started her PhD. But then the pandemic hit, along with various other life events, and she says it “kept making sense” to stay.

The transition to living together again was a “real challenge” at first, she says, as her mum struggled to give up control in areas like the kitchen. They also had “lots of arguments” as they worked out “how to be around each other”.

“It might sound cliché but we had to learn a new way of communicating,” she says.

One of the biggest benefits of living with her mother is the emotional support they give each other, Caroline says. But she admits the arrangement is sometimes not great for her self-esteem and there is “definitely a stigma about living with parents”.

Tips for adults who live with their parents

Source: Relate

Christodoulidi says one of the overlooked advantages of living as an adult with a parent is the chance to know each other differently.

“Parents often begin to see their child as another adult, while adult children gain a fuller understanding of their parents as people rather than simply as parents.”

She also says society needs to ditch the stereotype that adult children who still live at home have “failed to launch”.

Natasha says it helps to remind herself that living with her family is a “temporary” situation that will “lead to a better outcome in the future”.

The extra time she gets to spend with her parents is a “blessing”, she adds.

“One day I’ll move out, get married and have my own family, and I won’t have as much time with them,” she says.

Stocks in Asia slipped in early trading as heavyweight chip shares gave back some of the gains from Thursday’s blistering rally.

A gauge of Asian equities was down 1.1%, while South Korea’s tech-heavy Kospi dropped over 3%. US futures were little changed. The moves followed a choppy session on Wall Street, marked by heightened volatility in the tech sector. The S&P 500 ended flat, failing to sustain an early rally fueled by Micron Technology Inc., as Apple Inc.’s shares slid 6.1%. The iPhone maker led the Magnificent Seven lower after it raised prices on Macs, iPads and home devices.

Oil was in focus again after a projectile strike on a vessel in the Strait of Hormuz saw Brent crude climb on Thursday, snapping a three-day decline. Prices edged lower in early Asia trading. Meanwhile, bond traders priced in slightly lower expectations for a Federal Reserve interest-rate hike in the months ahead after the central bank’s favored inflation gauge rose less than estimated.

The equity market’s recent swings highlight investors’ growing unease over whether the tech giants that have powered the rally for much of the past two years can continue to justify the high expectations embedded in share prices. Concerns over AI spending have driven sharp moves in chip stocks this week, and while those worries eased after Micron’s results, volatility in the sector remains high.

“A few cracks have developed in the tech sector recently,” said Matt Maley at Miller Tabak. “Therefore, we believe it will be extremely important to watch how these hyperscalers trade going forward because if they continue to decline, it’s going to make it very tough for the rest of the market to advance.”

The Nasdaq 100 Index finished up 0.8% on Thursday, after having climbed as much as 2.1%. Besides Micron’s rally following its blockbuster results and outlook, Qualcomm Inc. shares also jumped after it forecast annual sales of more than $15 billion from artificial intelligence components in data centers by fiscal 2029.
That optimism was missing in early Asian trading, with shares of SK Hynix Inc., Samsung Electronics Co. and Kioxia Holdings Corp. among the biggest drags on the regional benchmark. Elsewhere, OpenAI is leaning toward holding off on an initial public offering until 2027, the New York Times reported, citing three people involved in the company’s deliberations.Meanwhile, the Fed’s preferred inflation gauge, the personal consumption expenditures price index, rose 0.4% in May, below economists’ median estimate for a 0.5% increase. The annual rate accelerated to 4.1%, well above the Fed’s 2% target. A separate report showed the US economy grew at an annualized 2.1% pace in the first quarter, faster than previously estimated.

Interest-rate swaps linked to future Fed rate decisions showed a drop in wagers on a hike this year, pricing in about 34 basis points of tightening by the December policy meeting versus some 36 basis points at Wednesday’s close. The chance of a rate increase next month dwindled to about one-in-three.

Federal Reserve Bank of New York President John Williams said interest rates are well positioned to bring inflation back toward the central bank’s target.

“The worst of inflation and consumer angst may be mostly behind us,” said Brian Jacobsen at Annex Wealth Management. “As long as gasoline prices trend lower, inflation expectations will likely follow suit.”

In commodities, gold was steady after rebounding above $4,000 an ounce in the previous session as traders tempered expectations for interest-rate hikes.

Mumbai: Vedanta Resources has received tenders for about $943 million of its outstanding dollar bonds under an early participation window of its debt buyback offer, a key step in the miner’s ongoing efforts to manage maturities and refinance debt. The tender offer, launched on June 9, sought to repurchase portions of US dollar bonds of $2.1 billion outstanding.

The early tender results represent about 45% of the $2.1 billion outstanding across four bond series maturing between 2030 and 2033. Debt capital market executives said it was a good response from investors because a large portion of them are comfortable holding the bonds due to their attractive yields and Vedanta’s improving refinancing profile.

Mumbai: The Reserve Bank of India (RBI), under a set of draft directions published Wednesday, said eligible participants in government securities would be allowed to maintain short positions.

It also laid down a detailed framework for trading in “when-issued” securities, which are bonds that have been announced by the government but have not yet been issued.

Market participants are required to send their inputs by July 17.

Short positions of 2% of the outstanding stock or ₹500 crore, whichever is higher, will be allowed for liquid government securities.
Banks and standalone primary dealers (PD) will be allowed to take both long and short positions of up to 25% of the notified auction amount, while all other eligible participants will be subject to a 10% limit, the draft proposal said.

“This would establish a market-clearing price before the bond even enters circulation,” a bond trader at a PD said. “More active when-issued trading could also reduce uncertainty around auction outcomes and improve secondary market liquidity once the bonds begin trading.”
For other, illiquid government bonds, the limit for short positions has been set at 1% of the outstanding stock or ₹250 crore, whichever is higher, the draft said.Short selling allows traders to sell bonds they do not currently own, with the expectation of buying them back later at a lower price.

The RBI has stipulated that such positions must be covered within three months through outright purchases in the secondary market, primary auctions or the when-issued market.

Clearer limits on position and operational guidelines could improve liquidity and price discovery in government securities, by allowing traders and primary dealers to express views on interest rates more efficiently, market participants said.

The draft directions also lay down a detailed framework for trading in “when-issued” securities. RBI announces bonds on a Monday, while the auction is held on a Friday.