Wall St ends mixed as tech megacap declines outweigh upbeat chip outlook

Wall St ends mixed as tech megacap declines outweigh upbeat chip outlook

By Abigail Summerville, Twesha Dikshit and Joel Jose

Thu June 25, 2026  

Micron came in with a boffo report and as I noted yesterday, that doesn’t necessarily equate to another rally as other factors could come into play. That is in fact exactly what happened today. Fears of AI companies overspending took priority over both Micron and Qualcomm turning in good reports. In fact, investors are now looking at it as a zero-sum game. That is, any revenues and profits the winners are making have to be coming out of other companies’ hides. Both the S&P and Nasdaq spent much of the day in the red with the Nasdaq dipping to a 3-digit loss and the S&P closing just barely even.  

The Nasdaq is heading toward its biggest monthly decline in over a year. The Dow was up huge, over 800 points, in the morning but began declining after 11 a.m. to lose all but 71 by close. There was good news on the GDP front with Q1 revised upwards from 1.6% to 2.1% as well as a larger than expected dip in unemployment benefits. The bad news, however, was the inflation readings still coming in hotter than expected topping 4% for the first time in three years, mainly due to energy. The good news is that oil has now fallen to below its pre-war prices. Volume at 20.34 billion is well below the 23.04 average. 

DJ: 51,848.90  +182.06       NAS: 25,476.64  -110.40         S&P: 7,358.22  -7.24             6/24

DJ: 51,920.62  +71.72         NAS: 25,358.60  -118.03         S&P: 7,357.49  -0.73             6/25

Thu 6-25-26 4:45 pm Wall St ends mixed as tech megacap declines outweigh upbeat chip outlook | Reuters