The S&P 500 Index ($SPX) (SPY) closed down -0.10%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.43%. September E-mini S&P futures (ESU26) fell -0.13%, and September E-mini Nasdaq futures (NQU26) fell -0.45%.
Stock indexes erased an early advance on Wednesday and settled mixed, with the S&P 500 and Nasdaq 100 falling to 1.5-week lows. Losses in chipmakers led the broader market lower on Wednesday, ahead of Micron Technology’s earnings results after Wednesday’s close to gauge whether artificial intelligence is living up to expectations. Micron Technology is one of the biggest beneficiaries of the soaring demand, as companies stand to gain from the billions of dollars being pumped into AI infrastructure, with the stock up more than 260% this year.
