Dow Jones Update: Tech Stocks Slide for Second Session While Energy Sector Shines Amid Rising Oil Prices

Sandisk Stock Soars on Micron’s Strong Performance

Sandisk investors are buzzing after Micron Technology reported impressive quarterly results. The demand for memory in artificial intelligence data centers is rising, and that’s great for Sandisk.

Citi analysts have raised Sandisk’s price target by more than 50%, boosting it to $125. They believe the industry is becoming stronger, especially after Micron’s record sales from data centers. Bank of America has echoed this, also setting the target at $125. Both firms consider Sandisk a solid “buy.”

uniQure’s Stock Skyrockets Following Positive Trial Results

uniQure’s shares surged by 235% after the company announced successful trial results for a treatment for Huntington’s disease. Their high-dose treatment showed a significant slowing of disease progression in participants compared to external control groups.

New Data Centers in the U.S. for AI Growth

In the push for advanced AI capabilities, OpenAI, Oracle, and SoftBank are teaming up to constructnew data centers across the U.S. This effort is part of the government’s ambitious $500 billion Stargate AI infrastructure plan.

OpenAI and Oracle will establish facilities in Texas and New Mexico, with additional sites planned in the Midwest. This expansion comes as AI technology becomes increasingly critical, with a projected $4 trillion to be spent globally on AI in the next five years. OpenAI’s CEO Sam Altman emphasizes that building infrastructure is essential for AI’s future potential.

Tech Stocks: Intel Gains While Others Struggle

While many tech stocks faced difficulties, Intel shares increased by about 5.5%. Investors are optimistic, as the company has climbed around 55% this year, in part due to a significant investment from the government and Nvidia.

Student Borrowers Cutting Back Due to Loan Payments

As student loan repayments resume, many borrowers are reducing their spending. Research indicates that individuals typically cut back $12.20 from their weekly spending for every $10,000 of student debt. For those with a $25,000 balance, this means a yearly spending decrease of about $1,590.

Despite the challenges, over two-thirds of borrowers have managed to keep their repayments on track. Recent surveys show that many expect to pay off their debt next year.

Lithium Americas Stock Surges on Possible Stake from the U.S. Government

Lithium Americas shares jumped after reports surfaced about the U.S. government considering a 10% stake in the company. This interest highlights the importance of lithium for electric vehicle batteries, especially in the face of rising competition from China.

Adobe Shares Drop Following Downgrade

Adobe’s stock fell about 3.5% after Morgan Stanley downgraded it from “overweight” to “equal-weight.” They expressed concerns over declining growth in Adobe’s digital media sector.

Freeport-McMoRan Faces Challenges with Lowered Sales Outlook

Freeport-McMoRan saw its shares drop more than 10% following a forecast of lower copper and gold sales. The company also reported tragic news regarding the loss of team members in an incident at its Indonesian mines.

Micron’s Performance Wows Despite Stock Slip

Micron Technology’s shares dipped even after announcing better-than-expected results, driven largely by AI-related demand. The company sees substantial revenue gains ahead.

Alibaba Expands AI Spending

Alibaba is upping its AI budget to over $53 billion, outpacing its initial plans. This move intensifies competition with tech giants like Nvidia and reflects a broader trend of tech companies heavily investing in AI.

Costco’s Earnings Report Ahead

Costco is set to release its fourth-quarter earnings soon, with analysts expecting potential volatility due to recent sales trends. However, some see this as an opportunity for investors, given Costco’s strong market position.

Nike’s Share Recovery

Nike’s stock is recovering after a difficult period, closing just under $71. Analysts suggest optimism for future growth as the company prepares for its upcoming quarterly update.

As stock futures show a slight uptick, investors are closely monitoring these developments, particularly in the tech sector.

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