Stocks Climb Late After Micron’s Blowout Outlook: Markets Wrap

Stocks climbed in late hours on speculation that Micron Technology Inc.'s strong outlook will help reignite confidence in the artificial-intelligence trade that has been a key driver of market sentiment. The semiconductor company's better-than-expected earnings and upbeat guidance sent shares surging, with investors interpreting the results as a positive sign for the broader technology sector. Micron's performance is particularly significant given its exposure to the AI space, as the company is a major supplier of memory chips used in AI applications. As a result, the market's reaction to Micron's earnings is being closely watched as a bellwether for the health of the AI trade, with many investors hoping that the company's strong outlook will help to alleviate concerns about the sector's prospects.