Welcome back to Markets Desk, here's where things stand heading into Tuesday's session.
Micron Technology crossed a threshold that few chipmakers ever reach, hitting one trillion dollars in market capitalization as shares surged eighteen percent. The driver is a tightening global memory supply being accelerated by artificial intelligence demand, and Micron is sitting squarely at the center of that shortage. It is a meaningful moment for the semiconductor space.
Shifting to commodities, cotton is bouncing back after a rough week heading into the long weekend. Most contracts are trading two to fifty-seven points higher Tuesday morning, a modest recovery after July shed three hundred nineteen points on the week and December fell two hundred fifty-eight. The dollar edging higher is a headwind, but bulls are finding some footing.
Meanwhile, soybeans are under pressure, down three to five and a half cents in early trade. The primary weight on the complex is crude oil, which is sliding three dollars and eighty-five cents from Friday's close after reports that the United States and Iran are moving closer to a nuclear deal, which would ease sanctions and loosen oil supply. Cheaper energy tends to ripple through agricultural futures, and traders are watching those Iran talks carefully.
That's the tape. Markets Desk, signing off the floor.
