Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average I:DJI  traded lower Thursday marking its eighth straight daily decline, the longest losing streak since March 2017.
  • Intel Corp. (INTC) - Get Report  declined 2% as CEO Brian Krzanich resigned after it was revealed he had a past consensual relationship with an employee at the chipmaker.
  • Micron Technology Inc. (MU) - Get Report rose 1.3% after issuing a forecast for the fiscal fourth quarter that topped analysts' estimates.

Wall Street Overview

Stocks fell on Thursday, June 21, as investors continued to eye developments in the U.S.-China trade war.

China warned the U.S. it was ready to respond to recently announced tariffs with "qualitative and quantitative" measures of its own and European Union officials brought forward the date at which their levies on U.S. made goods would kick in.

"It is deeply regrettable that the U.S. has been capricious, escalated the tensions, and provoked a trade war," said China's Commerce Ministry spokesman Gao Feng. "The U.S. is accustomed to holding 'big sticks' for negotiations, but this approach does not apply to China."

The Dow Jones Industrial Average I:DJI  fell 196 points, or 0.8%, to 24,4462, the S&P 500 I:GSPC  fell 0.63% and the Nasdaq I:IXIC  declined 0.9%. 

Oil prices fell Thursday amid reports that OPEC members were close to agreeing to a deal that would boost output. OPEC meets Friday, June 22, in Vienna.

Brent crude, the global benchmark, tumbled 1.4% to $73.70 a barrel, while West Texas Intermediate crude, the U.S. benchmark, was down slightly to $65.68 a barrel.

Intel Corp. (INTC) - Get ReportCEO Brian Krzanich resigned on Thursday after it was revealed that he had a past consensual relationship with an Intel employee. The stock fell 2.3%.

"Intel was recently informed that Mr. Krzanich had a past consensual relationship with an Intel employee," the company wrote in a press release. "An ongoing investigation by internal and external counsel has confirmed a violation of Intel's non-fraternization policy, which applies to all managers. Given the expectation that all employees will respect Intel's values and adhere to the company's code of conduct, the Board has accepted Mr. Krzanich's resignation."

Intel named Robert Swan, chief financial officer, as the interim CEO.

TheStreet explains what Intel investors need to do right now. 

Micron Technology Inc.

(MU) - Get Report

posted fiscal

third-quarter adjusted earnings

of $3.15 a share, 2 cents higher than estimates as sales rose 40% to $7.8 billion. On a conference call following the release of the earnings, Chief Financial Officer Dave Zinsner said Micron expects fourth-quarter adjusted earnings of $3.23 to $3.37 a share on revenue of $8 billion to $8.4 billion. Both estimates were higher than analysts' forecasts.

Micron shares rose 0.9%.

Watch TheStreet's analysis of Micron's results. Inc. (AMZN) - Get Report  fell 1.1% after Supreme Court said states can force online shoppers to pay sales tax.

Amazon is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.

Luxury carmaker Daimler AG (DDAIF) issued a surprise profit warning, citing trade tensions and the ongoing diesel emissions scandal. Shares traded in the U.S. were down 4.8%.

Darden Restaurants Inc. (DRI) - Get Report posted fiscal fourth-quarter adjusted earnings of $1.39 a share, 4 cents ahead of estimates, as same-store sales rose 2.2%. The owner of Olive Garden said it expects same-restaurant sales in fiscal 2019 to rise 1% to 2%. Shares rose 14.5%.

Kroger Co. (KR) - Get Report posted quarterly adjusted profit of 73 cents a share, 10 cents higher than estimates. The grocery giant also raised the low end of its guidance for 2018, saying it expects adjusted profit of $2 to $2.15 a share, up from $1.95 to $2.15. Shares were up 9.6%.

Shares of American Outdoor Brands Corp.

(AOBC) - Get Report

, the parent of gun maker Smith & Wesson, fell 3% on Thursday after reporting that sales plunged 25% in its fiscal fourth quarter and slumped 33% for the full year.

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