Stocks are under presssure. US yields are lower and the USD remains stronger. What next?
The USD is higher vs the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD – to kickstart trading on June 23, 2026. IN the video above I take a look at what the price action has done for each pair and what are the risks, and the targets for each as market gyrate.
U.S. stock futures are lower this morning as investors continue to trim positions in technology and semiconductor shares while Treasury yields remain elevated – although lower on the day.
- Dow futures: -107 points
- S&P 500 futures: -78 points after falling -27.79 or -0.37% yesterday
- Nasdaq futures: -718 points after falling -351.33 points yesterday
- 10-year Treasury yield: Near 4.487%, down -1.8 basis points. 2 year yield 4.200% or -2.9 basis points
- Bitcoin and crude oil: Bitcoin is trading at $62400 down -2.45% and crude oil is trading at $73.50 or down -$0.35 on the day. The low for oil reached $72.48 and is trading above and below the 200 day MA at $73.69 today as the market pauses near the key MA.
Semiconductor stocks are under pressure, with NVIDIA (-2.50%), AMD (-6.20%) , Intel (-6.60%), and Micron (-7.32%) all trading lower in premarket action as investors reassess AI-related valuations.
Micron Earnings After the Close
The big event today is earnings from Micron Technology after the closing bell. Investors will focus on:
- Revenue ($35.75B vs $9.3B last year) and EPS ($20.75 vs $1.91 last year) results versus expectations
- Demand for AI-related high-bandwidth memory (HBM) chips
- Profit margins and guidance
- Management’s outlook for AI spending and data center demand
Micron’s report is viewed as a key test for the broader AI trade. A strong report and upbeat outlook could help stabilize semiconductor shares, while any disappointment could extend the recent pullback in tech stocks.
This article was written by Greg Michalowski at investinglive.com.