The U.S. stock market closed mixed on Thursday, June 25, 2026. The S&P 500 finished nearly unchanged, dipping less than 0.1% to 7,357.49 points. The Dow Jones Industrial Average added 71 points, or 0.1%, to 51,960.62, while the Nasdaq composite fell 0.5%, or 118.03 points, to 25,358.60. Market sentiment was a rollercoaster, initially boosted by strong earnings in AI-related stocks but later weighed down by concerns over rising costs and Apple's price increases.
Micron Technology was a significant market driver, jumping 15.7% after reporting better-than-expected profit and revenue for the latest quarter and providing a strong growth forecast. This helped alleviate some concerns about its stock's rapid 267% year-to-date surge. Qualcomm also saw a rise of 3.8% following its forecast of $15 billion in annual sales from its data center business by 2029.
Conversely, Apple’s stock slumped 6.1% and was the largest drag on the S&P 500. This followed the company’s announcement of price increases for many of its products, including 15% to 20% hikes for Mac computers, attributed to higher costs for memory and other components. Other tech giants also saw declines, with Microsoft shedding 3.5%, and Alphabet and Meta each falling approximately 1% and 2% respectively, amidst concerns about AI infrastructure costs and squeezed margins for finished product sellers.
In the bond market, Treasury yields eased, with the 10-year Treasury slipping to 4.39% from 4.41% as a report indicated inflation behaved as economists expected. However, the May Personal Consumption Expenditures (PCE) price index showed persistent inflationary pressure, rising 4.1% year-on-year, the largest annual increase since April 2023. Oil prices also saw a rebound, with Brent crude futures for August delivery settling at $75.26 a barrel, up 2.06%, and US West Texas Intermediate futures rising 2.25% to $71.92 a barrel, after a vessel incident in the Strait of Hormuz.
