Memory-chip giant Micron reports earnings Wednesday evening, with shares trading 12% below their late June record close. Treasury yields are retreating from multi-year highs after encouraging August inflation data, with the PCE price index up 3.4% year-over-year, well below the 3.7% consensus estimate. The market is oversold for 14 consecutive sessions according to the S&P Oscillator, suggesting buying opportunities. Boeing was selected to build the US Navy’s sixth-generation fighter jet, sending shares up more than 2%. Robinhood surged over 4% after unveiling new products at its Active Trader Summit including weekend trading for certain stocks and ETFs.
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