Micron Technology logged another quarter of growth as climbing demand for its memory products drove revenue higher. The Boise, Idaho, company’s 46% jump in revenue during the fiscal fourth quarter was mainly driven by its cloud memory business, as artificial-intelligence developers turn to the company for memory storage. Demand for Micron’s DRAM and NAND memory products is higher than management previously expected, Chief Executive Sanjay Mehrotra told analysts Tuesday, helping to boost its outlook for the current quarter ahead of expectations. Higher DRAM pricing due to limited inventory and NAND’s improving profitability are expected to improve margins from the first quarter to the second, management said. “What I will tell you is that supply is tight,” Mehrotra said. “We expect a healthy demand-supply environment in 2026 for overall DRAM, and that bodes well for profitability.” Micron’s revenue climbed to $11.32 billion in the quarter ended in August, ahead of the $11.22 billion Wall Street was forecasting. Sales in the cloud memory business more than tripled to $4.5 billion.

The Swiss market closed on a weak note on Tuesday after a choppy ride as stocks turned in a mixed performance. The benchmark SMI ended with a loss of 23.53 points or 0.19% at 12,102.61 after scaling a low of 12,080.17 and a high of 12,158.23 intraday. Swatch Group climbed nearly 4%. Richemont gained about 2.5%. Amrize, Partners Group, Straumann Holding, VAT Group and Julius Baer ended higher by 1.1 to 1.6%. Roche Holding closed down by about 2.2%. Schindler Ps ended 1.79% down, while Alcon and Galderma Group closed lower by 1.43% and 1.34%, respectively. Sandoz Group, Lindt & Spruengli, Novartis and Holcim also ended weak. Data from Swiss National Bank showed Switzerland's current account surplus narrowed sharply to CHF 10.2 billion in the second quarter of 2025 from CHF 24.9 billion in the same period of the previous year. This marked the smallest current account surplus since the third quarter of 2024.

Europe
European markets closed mostly higher on Tuesday with investors digesting the latest batch of regional economic data, and picking up stocks amid expectations of more monetary easing by the Federal Reserve. Data showing acceleration in Eurozone and Germany's private sector activity in the month of September, and NVIDIA's plans to invest $100 billion in OpenAI aided sentiment. The pan European Stoxx 600 climbed 0.28%. The U.K.'s FTSE 100 edged down 0.04%, Germany's DAX advanced 0.36% and France's CAC 40 closed 0.54% up. Switzerland's SMI ended 0.19% down. Among other markets in Europe, Czech Republic, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain and Sweden closed higher. Belgium, Denmark and Turkiye ended weak, while Austria closed flat. In the UK market, Kingfisher skyrocketed nearly 15% after lifting its expectations for the fiscal year. Shares of real estate investment trust company Land Securities Land Securities gained about 2.3% after the company backed its annual outlook. Convatec Group gained nearly 3%. Antofagasta, Howden Joinery, Marks & Spencer, Easyjet, Burberry Group, Endeavour Mining, BP, Barratt Redrow, JD Sports Fashion, Segro, Barclays and DCC gained 1.5 to 2.5%. Smiths Group climbed up earlier in the session, buoyed by stronger annual profit and announcement of a higher dividend. However, the stock pared its gains susbequently, and closed lower by about 3.4%. Metlen Energy & Metals ended more than 4% down. St. James's Place, AstraZeneca, Babcock International, British American Tobacco, Admiral Group, Compass Group, Aviva, Fresnillo and Reckitt Benckiser also ended notably lower.

United States
Stocks moved mostly lower over the course of the trading day on Tuesday, giving back ground after trending higher over the past few sessions. The major averages all moved to the downside, pulling back off Monday's record closing highs. The tech-heavy Nasdaq led the way lower, slumping 215.50 points or 1.0 percent to 22,573.47. The S&P 500 slid 36.83 points or 0.6 percent to 6,656.92, while the narrower Dow dipped 88.76 points or 0.2 percent to 46,292.78. The weakness that emerged on Wall Street may partly reflected concerns stocks are overvalued following comments by Federal Reserve Chair Jerome Powell. Speaking at an event Rhode Island, Powell described equity prices as 'fairly highly valued' following the recent run to record highs. Powell also addressed the outlook for monetary policy, noting the Fed is facing a 'challenging situation' as near-term risks to inflation are tilted to the upside and risks to employment to the downside. A pullback by shares of Nvidia (NVDA) also weighed on the Nasdaq, with the chipmaker tumbling by 2.8 percent after surging nearly 4 percent to a new record closing high on Monday.The rally in Monday's session came after Nvidia and OpenAI announced a strategic partnership to deploy at least 10 gigawatts of Nvidia systems for OpenAI's next-generation AI infrastructure. Retail stocks showed a significant move to the downside on the day, dragging the Dow Jones U.S. Retail Index down by 1.2 percent. Notable weakness also emerged among software stocks, as reflected by the 1.2 percent loss posted by the Dow Jones U.S. Software Index. On the other hand, energy stocks continued to turn in a strong performance amid a sharp increase by the price of crude oil, with the Philadelphia Oil Service Index surging by 3.5 percent and the NYSE Arca Oil Index climbing by 1.6 percent.

Asia
Asian stock markets are mostly down at midweek. In Tokyo, the Nikkei 225 is down 0.1 per cent, but has recovered from its daily lows.

Bonds
In the U.S. bond market, treasuries moved to the upside after showing a lack of direction earlier in the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.3 basis points to 4.120 percent.

Analysis
Bank of America lowers Ferrari target to EUR 496 (548) – Buy
Bank of America lowers ASM International target to EUR 596 (602) – Buy
Morgan Stanley raises Kering target to EUR 250 (195) – Equalweight

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