Arizona Tribune - Nasdaq falls again on mixed day for US stocks, oil prices rise

The cargo ship was damaged by an unknown projectile off the Omani coast in the strategic strait on Thursday, prompting the International Maritime Organization to halt an evacuation of crews trapped by the US-Iran war.

Oil prices -- which have been in retreat following the US-Iran announcement of a peace deal -- rose more than two percent.

Wall Street indices finished mixed following a choppy session.

US stocks had opened higher following blowout results from chip company Micron, but later hit a speedbump after Apple announced price hikes of laptop, tablets and other products, citing spiraling memory and storage costs sparked by the rise of artificial intelligence. Shares of Apple slid 6.2 percent.

Both Amazon and Microsoft also fell after EU antitrust commissioner Teresa Ribera said the tech giants should face tougher digital competition rules in Europe because of their dominant position in cloud computing.

Other tech companies in the so-called "Magnificent Seven" also fell, but by smaller percentages.

Micron soared 15.8 percent after it reported profits of $28.2 billion on revenues of $41.5 billion, staggering figures that underscored robust demand for artificial intelligence infrastructure.

Briefing.com described the outcome as "divergent tech performance," adding that the gains "continue to broaden" to other sectors. These include industrial companies such as Caterpillar, which surged 6.3 percent.

The Micron earnings had also given a lift to South Korea's Kospi, which soared more than five percent due to tech share strength. Tokyo's Nikkei also had a good day, jumping 4.6 percent.

US data included an upward revision in first-quarter growth to 2.1 percent, while a key inflation reading in May showed personal consumption expenditures rising 4.1 percent from a year ago.

While a three-year high for the inflation reading, analysts said that with oil prices falling, the figure made it unlikely the Fed would raise interest rates further than already expected in the coming months.

"The lack of an upside surprise allows investors to focus on nearer-term catalysts, including renewed strength in technology stocks on the back of Micron's powerful earnings-driven reaction," said Bret Kenwell, investment analyst at eToro.

Among individual companies, Bayer surged 18.7 percent after the US Supreme Court handed the German pharmaceutical and agriculture company a big win in longrunning litigation over claims in US courts that its Roundup weedkiller causes cancer.

Ford climbed two percent after a prominent US consumer survey extolled the Michigan auto giant's quality performance, rating it first among mass market brands in a quality survey conducted with carmakers in the first 90 days of ownership.

- Key figures around 2030 GMT -

New York - Dow: UP 0.1 percent at 51.920.62 (close)

New York - S&P 500: FLAT at 7,357.56 (close)

New York - Nasdaq: DOWN 0.5 percent at 25,358.60 (close)

London - FTSE 100: UP 0.7 percent at 10,529.89 (close)

Paris - CAC 40: UP 0.6 percent at 8,431.61 (close)

Frankfurt - DAX: UP 1.0 percent at 24,994.83 (close)

Seoul - Kospi: UP 5.4 percent at 8,930.30 (close)

Tokyo - Nikkei 225: UP 4.6 percent at 72,366.34 (close)

Hong Kong - Hang Seng Index: DOWN 1.4 percent at 23,076.91 (close)

Shanghai - Composite: UP 0.2 percent at 4,120.28 (close)

Brent North Sea Crude: UP 2.1 percent at $75.26 a barrel

West Texas Intermediate: UP 2.3 percent at $71.92 a barrel

Euro/dollar: UP at $1.1374 from $1.1358 on Wednesday

Pound/dollar: UP at $1.3199 from $1.3168

Dollar/yen: UP at 161.81 yen from 161.78 yen

Euro/pound: DOWN at 86.18 pence from 86.26 pence

N.Walker--AT