US equity indexes were mixed on Thursday after Micron Technology's (MU) better-than-expected quarterly results and a surge in the annual inflation rate.
* Annual inflation accelerated to 4.1% in May, the fastest print since April 2023, matching consensus. Core PCE inflation, which strips out food and energy, accelerated to 3.4% from a year ago, as expected, from 3.3% in April.
* On a month-on-month basis, inflation held steady at 0.4% in May, slower than the 0.5% consensus. Core PCE was unchanged at 0.3%, in line with market expectations.
* August West Texas Intermediate crude oil rose $1.69 to settle at $72.03 per barrel, while August Brent crude, the global benchmark, was last seen up $1.61 at $75.35.
* Micron Technology shares rose nearly 16%, among the top gainers on the S&P 500 and the Nasdaq, after the company reported fiscal Q3 adjusted earnings and revenue late Wednesday that beat estimates, with Q4 guidance also exceeding consensus.
* Apple (AAPL) shares were down about 6.1%, the worst performer on the S&P 500 and the Dow, after the company, according to media reports, raised prices of its iPads and MacBooks amid surging memory and storage chip costs.