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Nasdaq futures soar 2% after Micron's strong earnings, in-line inflation data: Live updates

Nasdaq futures jumped 2% following Micron's strong earnings report and in-line inflation data. The tech-heavy index rebounded after a two-day sell-off, driven by Micron's 18% surge in premarket trading. Investors are now focused on the implications of the latest inflation data.

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What changed

Nasdaq futures rose 2% after Micron's earnings beat and in-line inflation data, easing tech sector jitters.

Live updates

  1. Nasdaq futures soar 2% after Micron's strong earnings, in-line inflation data

    Nasdaq futures jumped 2% following Micron's strong earnings report and in-line inflation data. The tech-heavy index rebounded after a two-day sell-off, driven by Micron's 18% surge in premarket trading. Investors are now focused on the implications of the latest inflation data.

    What's confirmed:

    • Micron's stock surged 18% in premarket trading after the company reported fiscal third-quarter results that topped analysts' expectations.
    • The Fed's preferred inflation gauge, the personal consumption expenditures price index, rose to 4.0% in May, the highest in three years.
    • Core inflation rate hit 3.4% in May, the highest since October 2023.
    • Nasdaq futures rose 2% following Micron's strong earnings and in-line inflation data.

    Still unconfirmed:

    • JPMorgan is flagging a potential headwind for tech stocks, warning that retail investors are pulling back on leverage in options and margin accounts after reaching extreme levels.
    confidence 50%