WASHINGTON (dpa-AFX) - U.S. stocks are turning in a mixed performance on Thursday with investors digesting a slew of crucial economic data and some corporate news, including earnings update from Micron.
The focus is also on reports about the ongoing U.S.-Iran peace efforts.
Among the major averages, the Dow climbed to a new record high and was up 0.44 percent at 52,076.11 a little while ago. The S&P 500 was down 0.05 percent at 7,354.43, while the Nasdaq was down 0.67 percent at 25,305.35.
Shares of Micron Technology soared 16 percent thanks to stronger-than-expected earnings and an upward revision in revenue forecast. The company expects a revenue of $50 billion in the quarter to August, which is well above expectations.
Another stock to move up sharply was Qualcomm, which gained more than 5% after raising its projection two-fold with regard to non-handset revenue for the next three years.
Meanwhile, shares of Amazon, Nvidia, Oracle, Alphabet and Microsoft declined sharply. Apple dropped by about 6 percent. Intel, Dell,
JP Morgan Chase, Caterpillar, GE Aerospace, Morgan Stanley, Merck, Citigroup, Linde, Seagate Technology Holdings, Analog Devices and Honeywell International rose sharply.
Data from the Labor Department showed the core PCE price index in the US, which is the Federal Reserve's preferred gauge of underlying inflation in the US economy, rose by 3.4% year-on-year in May 2026, the most since October 2023 and well above the Federal Reserve's 2% target.
The US core PCE price index rose 4.4% on a quarterly basis in the first quarter of 2026, up from 2.7% in the previous quarter and matching the prior estimate. It marked the strongest increase since the first quarter of 2023.
Data from the Commerce Department showed new orders for US-manufactured durable goods dropped by 4.5% month-on-month to $332 billion in May, after an upwardly revised 8.5% jump in April.
Data from the Labor Department showed seasonally adjusted initial jobless claims was 215,000 in the week ending June 20, a decrease of 12,000 from the previous week's revised level of 227,000.
A separate data showed the U.S. GDP rose 2.1% in the first quarter, compared to a revised 0.5% increase a quarter earlier. Year-on-year, GDP increased 3.6% in the first quarter of this year, compared to a revised 3.7% growth a year earlier.
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