U.S. stock futures climbed in early Thursday trading, led by strong gains in technology shares after Micron Technology’s earnings surpassed projections. Investors are awaiting fresh inflation figures for May that could steer Federal Reserve policy and affect market sentiment.
At 4:42 p.m. (Bangkok Time), Nasdaq 100 futures advanced 2.1% following steep declines in previous sessions, while S&P 500 futures gained 0.68%. The Dow Jones Industrial Average futures, less influenced by technology names, increased 0.07%.
Micron shares surged roughly 16% in pre-market activity after the semiconductor company’s fiscal third-quarter performance exceeded Wall Street forecasts, sparking optimism in the tech sector. The company’s stock had already gained almost 15% during post-market trading on Wednesday.
In addition, Qualcomm’s strategy to diversify beyond its traditional smartphone chip business and focus on data center offerings fueled further interest in technology shares. The company’s stock was up over 12% after setting a $15 billion annual revenue goal from data center and artificial intelligence-related products.
Market participants are closely monitoring the upcoming release of the Personal Consumption Expenditures (PCE) Price Index for May, the Federal Reserve’s preferred inflation indicator. Persistently high consumer and wholesale price data for May have led to concerns over potential interest rate increases later this year. The PCE release is expected to provide a more comprehensive view of price pressures for the month, particularly amid recent volatility linked to oil supply disruptions.
Before the market opens, quarterly results are expected from McCormick, Commercial Metals, Darden Restaurants, and Winnebago. Investors will also be watching for the final estimate of first-quarter gross domestic product, along with updates on May’s personal income, preliminary durable goods orders, and the latest initial weekly jobless claims through June 20.
