Micron beats, but markets mixed

Micron reported a strong quarter and raised guidance, sending its shares 15.74% higher on Thursday. However, it wasn’t enough to lift the tech-heavy Nasdaq, which slipped 0.46% nor the S&P which was flat, though the Dow managed to climb 0.14%. The key inflation stat, PCE (personal consumption expenditures) rose to 4.1% in May as expected, due to higher oil costs from the US-Israel-Iran war. That war is undergoing a shaky peace negotiation now, which explains why WTI rose 2.22% to US$71.90. Other key names: Sandisk 21.97%, Amazon -3.1%, Apple -6.12% and Microsoft -3.46%. The last two names slumped after announcing price increases to their products. The U.S. 10-year edged down to 4.392%.

The TSX gained 0.33% as materials, healthcare and industrials led eight sectors higher. Tech fared the worst, despite BlackBerry soaring 19.25%. Elsewhere, Jamieson Wellness rallied 10.41%, while B2Gold rose 2.72%, Telus slipped 1.69% and MDA Space declined 4.64%. Gold added US$30 to $4,029 while silver advanced 0.87% to US$57.80. 

💾 Micron Technology (MU) +15.74%

💾 Sandisk Corp (SNDK) +21.97%

📦 Amazon.com, Inc. (AMZN) -3.1%

🍎 Apple Inc (AAPL) -6.12%

Ⓜ Microsoft Corp (MSFT) -3.46%

📱 BlackBerry (BB.TO) +19.25%

💊 Jamieson Wellness (JWEL.TO) +10.41%

🥇 B2Gold Corp. (BTO.TO) +2.72%

📱 Telus Corp (T.TO) -1.69%

🧬 MDA Space Ltd. (MDA.TO) -4.64%