Markets closed off session lows after the Dow had been down nearly 500 points intraday. It was the second consecutive losing day for all three major averages.

Micron Technology (MU) delivered one of the most stunning earnings reports in recent memory, and the market barely flinched.

CEO Sanjay Mehrotra credited the surge to AI-driven memory demand, structural supply constraints, and strong execution.

The stock, up over 350% in the past year, slipped 4%: a sign that expectations had simply gotten too high.

MU stock boasts a Ziggma score of 97, outpacing peers in growth, financial health, and valuation.

However, analysts forecast the tech giant to fall 4% from current levels.

Micron is arguably the most direct play on AI infrastructure right now.

Every new generation of Nvidia GPU consumes more memory, and Micron is the key supplier.

The post-earnings sell-off is likely noise, as the structural demand story here remains intact.

With $100 billion campuses under construction in Idaho and New York, and HBM4 already in volume production for Nvidia's Vera Rubin, Micron is building for a memory supercycle.

Investors who look past the short-term profit-taking may be rewarded handsomely.

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U.S. stocks fell for a second straight session as the war in Iran continued to cast a long shadow over markets.

Brent crude surged to $108.65 per barrel, its highest close since July 2022, after Iran struck a key LNG facility in Qatar, which in turn was retaliation for Israel attacking Iran's South Pars gas field.

Oil prices eased in post-market trading after Israeli PM Netanyahu suggested the war may end “sooner than people think" and that Israel was assisting the U.S. in reopening the Strait of Hormuz.

Still, with the conflict approaching its fourth week, investors are abandoning hopes for a quick resolution.

The Fed, meanwhile, kept rates unchanged and Fed Chair Powell used the word "uncertain" more than half a dozen times — offering little comfort.

Macquarie economists went further, stating that the Fed's next move may actually be a rate hike in early 2027.

Futures traders are now pricing in zero cuts in 2026. The S&P 500 also breached its 200-day moving average for the first time since May 9, 2025, a key technical signal that the underlying trend may be turning negative.

Alibaba dropped over 7% after the e-commerce giant reported a significant revenue miss and a dramatic decline in income.

Quarterly revenue came in at 284.8 billion yuan versus an LSEG estimate of 290.7 billion yuan.

Net income tumbled 66% year-over-year to 15.6 billion yuan, a stark reminder of the structural headwinds facing China's tech giants amid regulatory pressure and sluggish consumer spending.

FICO fell nearly 5% as investors reacted to a dual threat: growing competition from VantageScore 4.0, now allowed in mortgage underwriting under an updated FHFA policy, and broader weakness in software stocks.

FICO's dominant position in credit scoring is being directly challenged for the first time in years.

The stock's premium valuation leaves little room for error, making it vulnerable to shifts in sentiment.

Newmont shed more than 7% as gold prices plunged below $5,000 per ounce, driven by fears of prolonged high interest rates and rising fuel costs from the Middle East conflict, which are squeezing mining margins.

🤖 Uber to invest up to $1.25 billion in Rivian as part of a plan to deploy 50,000 robotaxis across multiple countries through 2031.

💊 Eli Lilly's retatrutide shows promise, with phase 3 data from its next-gen obesity drug indicating "potentially best-in-class" weight loss of 9%–14.3% after 40 weeks, with no plateau observed yet.

🧠 President Trump backed an ongoing DOJ criminal investigation into Fed Chair Jerome Powell, tied to the Fed HQ renovation project led by U.S. Attorney Jeanine Pirro.

📉 Gold fell ~10% week-to-date, heading for its steepest weekly drop in over 40 years; silver fell more than 10% on the day alone.

📊 AAII poll shows pessimistic sentiment at the highest level since May 2025; bullish sentiment fell to just 30.4%, the lowest since September 2025.

Mosaic declined as oil-driven input cost inflation, particularly for sulfur and ammonia, squeezed fertilizer margins. A reported DOJ antitrust probe added further pressure, eroding investor confidence in the stock.

Ciena surged on the back of strong service provider revenue growth, 40% order growth in India, and a 16% revenue increase from top-tier clients, driven by accelerating global demand for managed optical fiber networks.

SLB climbed as crude oil prices approached $95 per barrel on Middle East supply disruptions. A strong backlog in LNG and power systems, a recent dividend hike, and a $4 billion shareholder return pledge reinforced the bullish case.

🚗 XPeng reports Q4 earnings today; investors are closely watching for progress on profitability after recent delivery misses.

🛢️ Baker Hughes weekly rig count releases today— a key read on U.S. oil drilling activity amid surging energy prices.

⚡ Triple Witching: ~$5.7 trillion in notional options tied to U.S. stocks, indexes, and ETFs expire today — expect elevated volatility and unpredictable volume surges.

📉 S&P 500 Quarterly Rebalancing: Coincides with Triple Witching, which forces institutional rebalancing and amplifies market swings.

🌍 Global Economic Data: European producer price indexes and Asian consumer price data are released today, with implications for global inflation and rate outlook.

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