The remarkable rally in U.S. equities, powered largely by artificial intelligence-related investments, faces its next major test as investors await quarterly earnings from Micron Technology. The chipmaker's results, due on June 24, are expected to provide a key indication of whether the surge in AI-driven demand for semiconductors remains strong enough to sustain the market's momentum.
According to Reuters, Wall Street's major indices continue to hover near record highs despite recent bouts of volatility, supported by resilient corporate earnings, robust investment in AI infrastructure and easing geopolitical concerns following developments in the Middle East.
