US stocks: Hyperscalers mostly fall in pre-market trading, Micron and Qualcomm jump over 10%

Per HTX market data, major cryptocurrencies have accelerated their decline again after US stock markets opened. Bitcoin dropped below $61,000 intraday and is now trading at $60,738.89. MicroStrategy (MSTR) also fell in lockstep, down 3.33% after opening, at $90.67.

According to Bitget market data, Micron Technology’s gains expanded to over 19.0% at the start of trading, lifting its market capitalization above Meta Platforms for the first time, after the company’s earnings outlook beat expectations.

US stock market opening: Dow Jones up 0.58%, S&P 500 up 0.79%, Nasdaq up 0.97%. In individual stocks, per Bitget market data, IBM opened 0.91% higher; the company announced Thursday it is launching the world’s first sub-1-nanometer chip technology. Micron Technology surged 17% after its strong earnings report handily beat expectations. Apple opened 2.27% lower, as the company raised prices for multiple products including Mac and iPad due to a storage chip shortage. Dell opened 8.12% lower, after analysts noted its key orders could be split among ODM suppliers. Qualcomm’s stock rose 11% at the open, marking its largest gain since May 22, after the company raised long-term revenue targets for its data center and non-handset businesses. Storage stocks rallied: SNDK up 18.31%, WDC and STX both up nearly 10%. In the CPO concept sector: AAOI opened 1.98% higher, GLW up 6.78%, LITE and COHR both up over 5%, and MRVL up 4.07%.

Someone created a new wallet, 0x2A32, and opened a 2x long on 3.46M $SYN($1.69M) on @Aster_DEX. In less than 2 days, the position is already up ~$662K.

According to Lookonchain's monitoring, a newly created address has opened a 2x long position on 3.46 million SYN tokens (valued at $1.69 million) on the Aster platform. In less than two days, this position has gained approximately $662,000.

U.S. 10-year Treasury yield falls below 4.40%, hitting a seven-week low. Earlier released inflation data came in lower than expected, easing market expectations of multiple Federal Reserve interest rate hikes. Lower oil prices also help alleviate inflation concerns. However, strong consumer spending and resilient economic growth continue to underpin expectations of at least one Fed rate hike this year.