Wall Street opens on a positive note despite Micron’s guidance falling short

European stock markets experienced a slight decline on Thursday, with Wall Street also expected to open lower based on futures. However, rates opened with a small rise. Among the main indices, the S&P 500 and Nasdaq were up 0.1 percent, while the Dow Jones was down 0.1 percent. Companies like Nvidia, Tesla, and Micron saw fluctuations in their stock prices.

Micron, a memory chip manufacturer, saw a rise in its stock despite slightly better-than-expected results in the previous quarter. The company’s guidance for the next quarter’s turnover was moderate compared to expectations. Micron has benefited from increased demand for memory chips due to artificial intelligence developments, although production scaling has been a challenge.

Walgreens Boots Alliance, a pharmacy and medicine distribution chain, experienced a 24 percent drop in its stock market value due to weaker consumer demand than anticipated. Levi Strauss, a clothing company known for its jeans, also saw a 16 percent drop in its stock price after falling short of analyst revenue forecasts.

In the United States, new unemployment compensation applications slightly missed expectations, while durable goods orders and wholesale stocks grew more than expected. The final GDP figures for the first quarter were revised slightly upwards. Tomorrow, the PCE deflator numbers, alternative inflation figures closely monitored by the Fed, will be released.

Overall, the job market in the US appears to be slowing down, with employees no longer rushing back to work as companies assess investments, financing costs, and spending levels more cautiously. Economic indicators suggest a shifting landscape in the labor and financial markets.