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• Micron Technology (NASDAQ: MU) reported Q3 fiscal 2026 EPS of $25.11 against a consensus of $20.28, with revenue of $41.46 billion dramatically exceeding the prior year's $9.30 billion and the consensus estimate of $35.25 billion.
• Micron Technology (NASDAQ: MU) surged roughly 16% in premarket to $1,219.60 after Q3 fiscal 2026 revenue of $41.46 billion grew more than 346% year on year and demolished the $35.59 billion consensus, with adjusted EPS of $25.11 crushing the $20.63 estimate.
• Strategy Inc. (NASDAQ: MSTR) closed at $94.13 on Wednesday, down roughly 9.35%, hitting a 23-month low and approaching its 52-week low of $92.28 as Bitcoin fell below $60,000 and capital structure concerns drove volume to more than twice the daily average.
• The May PCE price index releases Thursday as the first major inflation data since the Fed's fourth consecutive hold at 3.50%-3.75%, with April's headline PCE at 3.8% year on year remaining well above the 2% target.
• EUR/USD traded at $1.14, up a modest 0.10% on the day, but under sustained pressure after breaking below a key technical support zone as the dollar index reached a 13-month high.
• Bitcoin fell below $60,000 on Wednesday, its lowest level in 20 months, declining roughly 10% over the prior week and nearly 23% over the past month before recovering modestly to $61,641.38.
• Industrials Lead the Market: Industrials (XLI) advanced 1.16%, emerging as the strongest-performing sector as investors increased exposure to economically sensitive industries.
• Financials Remain the Strongest Leader: Financials (XLF) continue to occupy one of the most dominant positions within the Leading quadrant, maintaining superior relative strength despite some moderation in momentum.
As of the latest intraday update, Costco Wholesale (NASDAQ:COST) edged up half a percent to $962.48 on Wednesday, outperforming early session estimates as defensive warehouse retail held up against broader market volatility.
DA Davidson disclosed on June 2 that its price objective for Best Buy (NYSE: BBY) has been increased to $90, up from $78. The analyst team maintained a Buy rating, citing continued momentum across key product categories after a direct discussion with senior executives. …
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