US economy, Micron, Amazon’s $2T market cap: 3 Things

Stock futures (^DJI, ^IXIC, ^GSPC) are digesting key economic data reporting the US economy to have grown by 1.4% in 2024’s first-quarter

Micron Technology (MU) slips lower in Thursday’s pre-market trading after the chip designer beat fiscal third-quarter earnings results, while fourth-quarter guidance feel in-line with Wall Street expectations.

Amazon’s (AMZN) market cap surpassed $2 trillion yesterday.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

Let’s get right to it with the three things that you need to know this Thursday morning as you prep for the trading day.

Yahoo finances, Josh Shafer Jared and Madison Mills have more.

Investors are digesting a fresh batch of econ.

The US economy grew at a rate of 1.4% in line with estimates in the first quarter.

We’re also looking at the labor market where 233,000 people filed for first time employment benefits last week.

That’s down from the previous week plus shares of Myron under pressure on the back of its quarterly results.

The chip maker beating Wall Street’s third quarter expectations driven by demand for its A I memory chips with the price drop comes and made my current quarter outlook roughly coming in line with analyst estimates disappointing investors, the results dragging stocks like NVIDIA and a lower this morning.

And Amazon hit a historic milestone.

The E commerce giant reaching a $2 trillion valuation for the first time ever on Wednesday.

Amazon is now the fifth US company to cross that $2 trillion market cap.

Joining other big tech titans like in video apple alphabet and Microsoft shares of Amazon surging more than 25% year to date so far.