This is a data-heavy, holiday-shortened week.
Job openings (JOLTS) land shortly after this morning's bell, with the prior reading near 7.6 million... a level that has held higher than most expected.
The June jobs report comes Thursday, a day earlier than usual, because the market is closed Friday for the Fourth of July. ISM manufacturing on Wednesday.
Inflation ran above 4% in May, and the labor market has been firmer than the "AI is killing jobs" headlines suggest.
A strong jobs number Thursday does not pull rate cuts forward... it pushes them further away, which weighs most on the richly valued tech names that just led this bounce.
Dow closed above 52,000 for the first time yesterday, a fresh record, helped along by Alphabet's first day as a member of the index after it replaced Verizon.
The S&P 500 added about 1.2% and the Nasdaq climbed roughly 2% as money rotated back into the megacap technology names that had been sold hard the week before.
MU and the Demand for Memory Chips
The case for Micron is not complicated... high-bandwidth memory sits beside every AI accelerator being built, only three companies make it at scale, and the 2026 supply is already spoken for. That is real demand.
See my Analysis of MU
-Greg
Interested in a "Chip" Play?
This tiny chipmaker is powering NVIDIA's next-generation AI Superchips
(sponsored) Nvidia Is Too Expensive. This One Powers More Devices.
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