U.S. stocks closed mixed on Wednesday. The S&P 500 fell 0.1% and the Nasdaq Composite fell 0.4%. The Dow Jones Industrial Average rose 184 points, or about 0.4%. The market weakness was largely driven by losses in technology and semiconductor stocks ahead of Micron Technology’s earnings report after the close. Micron Technology shares fell nearly 6% during trading.
Memory chip company Sandisk also fell about 5%. Micron and SanDisk both fell about 13% in the previous trading day. Other chip stocks, including Advanced Micro Devices, were also lower. Investors are awaiting Micron Technology’s quarterly earnings report, scheduled to be released after the market close.
Analysts surveyed by FactSet expect Micron Technology to report earnings of $20.83 per share on revenue of $35.75 billion, FactSet reported via CNBC. Wednesday’s weakness follows a sharp sell-off in technology stocks on Tuesday. A heavy sell-off in semiconductor-related stocks on Tuesday sent the VanEck Semiconductor ETF down 7%.
Before this week’s decline, Micron shares had been one of the market’s biggest winners in 2026. The stock hit a record high on Monday. Micron’s closing price on Tuesday was $1,051.77 per share.
Major index closing data:
- Dow Jones Industrial Average: rose 148.60 points (+0.29%) to close at 51,816.91 points.
- S&P 500: down 0.13% to 7,355.62.
- Nasdaq Composite Index: fell 0.71% to 29,139.62 points.
Oil prices plummet
Oil prices continued to fall on Wednesday. Brent crude, the international benchmark, fell about 3% to around $74 a barrel. Brent crude oil It hit its lowest level since the United States and Israel launched air strikes on Iran earlier this year. U.S. benchmark West Texas Intermediate crude fell about 3% to around $70 a barrel. During the session, WTI crude oil fell below $70 and hit a low of $69.84 a barrel. This is the first time since March 2 that WTI has traded below $70.
Falling oil prices weighed on energy stocks. Exxon Mobil shares fell more than 2%. Chevron shares fell more than 2%. ConocoPhillips shares fell more than 2%. SLB’s stock price also fell more than 2%. The Energy Select Sector SPDR Fund fell nearly 2%.
Treasury yields lower
U.S. Treasury yields fell as oil prices fell. The 10-year Treasury yield fell below 4.5%.
Alphabet rises after Dow Jones report
Alphabet shares rose about 1%. Shares of Alphabet rose after S&P Global announced it would replace Verizon in the Dow Jones Industrial Average.
Bitcoin drops below $60,000 again
Bitcoin fell to $59,023.98. Bitcoin hits lowest level since October 2024. This is the third time in 2026 that Bitcoin has traded below the $60,000 level. The cryptocurrency has been in a bear market for about eight months. Market experts say Bitcoin is facing pressure from a variety of factors.
Also read: Bitcoin falls below $60,000 as concerns about strategy spark new crypto market concerns
Investors are pouring money into artificial intelligence companies, initial public offerings and prediction markets. Rising inflation concerns related to the Iran conflict also hurt market sentiment. A widespread loss of confidence across the cryptocurrency market has put additional pressure on Bitcoin prices.
Wendy’s shares soar in volatile trade
Wendy’s shares rose sharply Wednesday. The stock soared more than 42% at one point. The rally was largely driven by strong buying from retail investors. Wendy’s announced that former Potbelly executive Steven Cirulis will become its new chief financial officer and chief strategy officer. However, the scale of the stock market rally suggests retail investor enthusiasm is playing a bigger role than management appointments.
Heavy trading volume prompts brief trading halt on New York Stock Exchange Wendy’s Stock Due to volatility. After trading resumed, the stock climbed to an intraday high of $8.89 per share. Late in the session, Wendy’s was still up about 30%.
New Home Sales and Mortgage Rates
The U.S. housing market showed signs of weakness in May. The Commerce Department reported that sales of new single-family homes fell sharply this month. New home sales increased at a seasonally adjusted annual rate of 580,000 units. That was 7.3% lower than April’s revised figure. The result was also well below economists’ forecast of 632,000 homes.
Despite slowing sales, home furnishings price Significant increase. The average price of a new home rose to $540,600. 7.8% higher than April. It is also 5% higher than the same period last year.
Mortgage rates rose in May. According to Mortgage News Daily, the average 30-year mortgage rate ended the month at 6.56%. The current 30-year mortgage rate is about 6.65%.
Which sectors are performing well (June 24, 2026)
Today’s industry performance
- Consumer Discretionary: +1.07%
- Industrial: +0.96%
- Healthcare: +0.90%
- Utilities: +0.85%
- Consumer Staples: +0.61%
- Material: +0.25%
Sectors that fell:
- Real estate: -0.19%
- Financial position: -0.23%
- Communication services: -0.70%
- Information Technology: -1.11%
- Energy: -1.78%
The overall stock market ended mixed as investors sold technology and chip stocks ahead of Micron Technology’s earnings report. Lower oil prices pushed energy stocks lower and helped U.S. Treasury yields fall. Bitcoin fell below $60,000 again, showing continued weakness in the crypto market.
