Stock Market Today: Dow Knocked Down, Nasdaq Pares Gain; Micron Holds Firm After Earnings Soar

Wall Street's Wednesday session turned mixed, with the Dow Jones index flipping lower while the Nasdaq pared its earlier gains. The split tape left indexes without a clear direction as traders weighed fresh inflation data and a standout earnings reaction.

The data point driving the macro backdrop: PCE inflation cooled. The Personal Consumption Expenditures index is the inflation gauge most closely tied to Federal Reserve policy thinking, so a softer reading is typically read as supportive for rate-sensitive assets. Interpretation: the cooler print did not generate a broad rally, since the Dow still slipped and the Nasdaq surrendered part of its advance. That suggests the market had already priced in some of the good news, or that other forces outweighed it.

The standout name was Micron, which held firm after its earnings soared. Investor's Business Daily put the chipmaker in focus as the session's key stock story. Holding firm, rather than selling off, after a strong report is a constructive signal: it shows buyers stepping in to defend the post-earnings move instead of fading it. Interpretation: Micron's resilience contrasts with the softer tone in the Dow, pointing to selective strength rather than a uniform risk-on bid.