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S&P 500 futures rise as Micron surges after earnings; Wall Street awaits key inflation reading: Live updates

U.S. stock futures climbed early Thursday as a blowout earnings report from Micron Technology revived AI enthusiasm. Qualcomm's forecasts also helped lift chip stocks and ease previous technology selloffs. Investors are now awaiting May's personal consumption expenditures price index reading.

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What changed

Micron and Qualcomm results have reversed a two-day tech slide and sparked a chip stock rally.

Live updates

  1. S&P 500 and Nasdaq Futures Rise Following Strong Micron Earnings

    U.S. stock futures climbed early Thursday as a blowout earnings report from Micron Technology revived AI enthusiasm. Qualcomm's forecasts also helped lift chip stocks and ease previous technology selloffs. Investors are now awaiting May's personal consumption expenditures price index reading.

    What's confirmed:

    • S&P 500 futures and Nasdaq 100 futures climbed 0.5% and 1.9% respectively.
    • Futures tied to the Dow Jones Industrial Average gained 29 points.
    • The Fed's preferred inflation gauge, May's personal consumption expenditures price index, is due at 8:30 a.m. ET on Thursday.
    • Micron Technology and Qualcomm forecasts contributed to a rally in AI chip stocks.
    • U.S. stock futures rose following a period of technology stock selloffs.

    Still unconfirmed:

    • The AI chip stock rally is valued at $400 billion.
    confidence 95%