Micron Shares Gain 1.6% as Tech Stocks Rally on G-7 Oil Plans
MUMU•
Micron Technology shares rose at least 1.6% as the Nasdaq 100 climbed 0.5% and the S&P 500 advanced 0.3% following the G-7's request for the IEA to model emergency oil reserve releases. The Cboe Volatility Index held near 23 after hitting a multi-month high in the prior session.
1. G-7 Models Emergency Oil Reserve Releases
The G-7 asked the International Energy Agency to develop scenarios for the release of strategic oil stockpiles, evaluating volumes that could be deployed to address supply concerns following recent Middle East tensions.
2. Micron Rides Tech Market Upswing
Micron Technology shares jumped at least 1.6% as the Nasdaq 100 rose 0.5% and the S&P 500 added 0.3%, while the Cboe Volatility Index stayed near 23 after reaching a multi-month peak in the prior trading session.
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Sources
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