Micron Hits 7th Consecutive Record High as Nvidia Backs IREN Investment
Micron extended its rally to a seventh straight record closing high on robust AI memory demand, while Nvidia disclosed a strategic IREN investment alongside earnings beats from Wendy’s and Rocket Lab. Investors weighed upcoming US payrolls and sustained elevated oil prices into a mixed markets session.
1. Mixed Markets on Jobs and Oil
US equities traded mixed as investors positioned ahead of the upcoming payrolls report while oil prices remained elevated, supporting energy names but weighing on broader market sentiment.
2. Nvidia’s IREN Investment
Nvidia announced a strategic investment in IREN, marking its latest expansion into a new venture and underscoring management’s focus on diversifying technology partnerships.
3. Micron’s Record-High Momentum
Chipmaker Micron posted a seventh consecutive record closing high, driven by accelerating AI-driven memory demand and continued strength in data center orders.
4. Earnings Beats from Wendy’s and Rocket Lab
Wendy’s and Rocket Lab both topped analyst estimates in their latest quarters, contributing to the mixed session by highlighting divergent performance across consumer and aerospace sectors.