Micron could test whether the stock-market rally is broadening beyond tech
Micron’s earnings results, due after the closing bell on Wednesday, could offer a fresh test for the stock market’s resilience, according to Joe Mazzola, head trading and derivatives strategist at Charles Schwab.
If the chip maker disappoints and technology shares come under more pressure, investors may want to watch market breadth — how many stocks are rising versus falling — to see whether the rest of the market can hold up, he said.
On Tuesday, weakness in major tech names did not fully derail the broader market, suggesting that the rally may be starting to broaden again beyond a narrow group of leaders.