The U.S. stock market closed with a mixed tone on Thursday, as the Dow Jones rose modestly (+0.14%) while the S&P 500 and Nasdaq Composite ended slightly lower (-0.01% and -0.46%, respectively). The uneven performance across the major indices suggests a lack of broad market direction, with the Nasdaq's decline driven by a drop in Apple shares, despite Micron's strong earnings report. The Dow's gain was supported by a rise in energy stocks, likely influenced by escalating Middle Eastern tensions. The market's overall tone was risk-off, with investors cautious amid a hotter-than-expected PCE inflation reading and concerns over geopolitical instability.

The most significant macro and sector drivers today were the PCE inflation data and geopolitical tensions. The PCE price index came in hotter than expected, fueling concerns about inflationary pressures and potentially tightening monetary policy. Additionally, rising oil prices, driven by tensions in the Middle East, added to the risk-off sentiment. Sector-wise, technology stocks, particularly those in the memory chip space, were under pressure, with Micron's earnings report overshadowed by a decline in Apple shares. Conversely, energy stocks benefited from the rise in oil prices. The market's focus on Micron's earnings, despite the broader selloff, highlights the sector's importance in the current market environment.