US Stock Market Ends Session on Positive Note Amid Strong Tech Results

The US stock market ended the session on a positive note, with the Dow and Nasdaq settling just 0.04% higher, while the S&P 500 finished up 0.19%. The tech-heavy Nasdaq was boosted by a bullish set of results from Micron Technology, which posted stronger-than-expected quarterly results due to surging demand for AI infrastructure.

Adjusted earnings per share came in at $33.42, ahead of the $31.61 expected on the Street, while revenues rose to $54.23bn, topping forecasts of $51.07bn and almost quadrupling from $11.32bn a year earlier.

Others in the sector also performed well, including Applied Materials, KLA, Analog Devices, Marvell Technology, and Nvidia. Oracle shares were higher on reports that Chinese tech conglomerate Tencent is to lease 100,000 Oracle chips as it ramps up its AI agenda.