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Snowflake Drops as AI Disruption Fears and Growth Slows Weigh on Stocks
22 hours ago•Source: Benzinga
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134.37 min•1 day ago
Fragile U.S.–Iran ceasefire keeps markets on edge ahead of CPI
Investors kept a wary eye on a fragile U.S.–Iran ceasefire as stock futures stayed muted, while oil rose on Hormuz bottlenecks and traders awaited the March CPI data. Gold eased amid a firmer dollar and inflation concerns, with economists expecting the headline CPI to rise on higher energy prices and core inflation to advance more moderately, likely shaping the Fed’s near-term stance.
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Software Stocks Brace for More Pain as Key Support Breaks
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Cease-Fire Sparks a Memory-Stock Rally
Barron's•1 day ago
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Applied Digital slides on Q3 beat as investors eye hyperscaler leases
Applied Digital fell about 8% after a Q3 beat, as investors weighed low-margin segment results and awaited major customer wins; analysts remain positive on execution and near-term lease potential with hyperscalers, with Needham maintaining a Buy rating and a $41 target, while potential Ready-for-Service dates and CRWV credit upgrades could improve the cost of capital.
Asia markets slip as Iran-U.S. ceasefire frays; oil climbs
Asia-Pacific stocks fell as investors weighed a fragile Iran-U.S. ceasefire deal, with major indices in Tokyo, Seoul, Shanghai, Hong Kong and India lower, while Brent and WTI crude rose on geopolitical tensions. In the U.S., stocks surged after Trump announced a two-week halt to attacks, lifting the Dow, S&P 500 and Nasdaq as traders await a workable negotiation framework.
Micron Stock Rises on Bullish Memory-Chip Pricing Outlook Ahead of Earnings
Micron shares advance in premarket trading after KeyBanc boosts optimism on longer-term memory deals and pricing for DRAM/NAND, with analysts predicting higher memory prices and strong demand despite near-term competition from SK Hynix. Investors are awaiting Micron’s June 24, 2026 earnings report; the stock holds a Buy consensus with an average target near $516, and MU remains a heavyweight in major ETFs, contributing to the upside backdrop.
S&P 500 Faces Seasonality Headwinds Into Q2 After March Slide
March’s 7.6% drop makes this the worst month for the S&P 500 since 2022, with seasonality implying more downside into Q2. Historically, the S&P 500 falls about 2.8% in the second quarter of a midterm-year cycle, and midterm-year drawdowns average around 16% (median ~15.6%). Yet after such drawdowns, the subsequent year has averaged a 36.4% gain (median ~39.8%), underscoring that selloffs are common but long-run gains often follow. Since 1980, the market has averaged about a 14.1% annual drawdown.}
Kospi's March rout punctuates a stellar 2026 run
South Korea’s KOSPI, which had been the world’s top performer in 2026, plunged about 19% in March after a rally that had seen the index up roughly 50% by February and about 20% for the year to date. The drop came as energy prices surged and heavyweight chipmakers like Samsung Electronics and SK Hynix faced repricing, pushing the market toward bear territory for the month, while the won weakened and energy-import dependence underscored Korea’s economic vulnerability. Despite the March setback, the Kospi remains the strongest major market for 2026 so far, illustrating how quickly sentiment can shift in a volatile cycle.
Citi trims Micron target as DRAM prices slip, AI demand looms
Citi lowered Micron's price target to $425 from $510 after DDR5 16GB DRAM prices fell about 6% post-earnings; while weaker near-term pricing pressures persist, AI efficiency and longer-term memory demand could still support upside, as memory makers seek long-term deals with hyperscalers to stabilize prices.
Emerging Markets Recede as Middle East War Triggers Oil Shock
Emerging-market stocks erased their 2026 gains as the Middle East war sparks an energy crisis that risks slowing growth and accelerating inflation; the MSCI Emerging Markets Index fell as much as 0.9%, with Asia’s gauge briefly reversing its 2026 advance as heavyweights like Samsung Electronics and SK Hynix dragged the region higher.
Oil slips as Trump hints at ending Iran conflict; Asia markets mixed
Asia-Pacific stocks swung in volatile trade as oil prices retreated following a WSJ report that Trump is willing to end U.S. hostilities with Iran even if the Strait of Hormuz remains largely closed; regional indices mixed and U.S. bourses slipped for a third straight session as investors weigh potential de-escalation against the risk of a protracted conflict.
Geopolitics Pressure Keeps US Stocks Slumping With More Downside Possible
US equities have fallen about 7.4% since the Iran conflict began, exceeding the 6.1% median drawdown seen after prior geopolitical shocks, according to Deutsche Bank analysis cited by MarketWatch. With the VIX above 30 signaling elevated fear and both discretionary and systematic investors trimming exposure, the market could face more downside if volatility remains elevated.
Micron Dips Into Bear Territory After 666% AI Memory Rally
Micron Technology’s stock slid into bear market territory, down about 23% from its mid‑March peak after a blockbuster quarter and a roughly 666% surge from the April 2025 low. The pullback reflects sell‑the‑news dynamics and new concerns about AI memory demand amid TurboQuant developments and Micron’s large multiyear capex plans, which could pressure future free cash flow and raise overcapacity risk. Valuation looks modest on the forward line (about 6x) versus a trailing P/E near 17x, but momentum has deteriorated (RSI ~34) as MU traded around $328.50 when published, leaving room for either further consolidation or a potential rebound if AI‑memory demand proves durable.