BUSINESS

United States futures jump as chipmakers revive tech rally

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U.S. stock futures climbed sharply on Thursday, driven by strong earnings and forecasts from major semiconductor companies that eased concerns about a losing streak in artificial intelligence-linked shares. Nasdaq 100 futures gained about 2.2%, with S&P 500 and Dow futures also moving higher as investors rotated back into technology names. Micron led the rebound after issuing a strong outlook and reportedly securing about $22 billion in chip orders, while Qualcomm rose on an upbeat data-center revenue forecast. Attention now turns to the U.S. Personal Consumption Expenditures price index, the Federal Reserve’s preferred inflation gauge, expected around 4.1% and closely watched for policy signals.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

Recent weeks Nasdaq stumbles on AI worries
Earlier this week semiconductor sector faces selling
Thursday pre-market Micron issues strong sales outlook
Thursday pre-market Qualcomm lifts data-center revenue forecast
Thursday morning Nasdaq 100 futures surge 2.2 percent
Thursday morning S&P 500 futures also trade higher
Later Thursday markets await PCE inflation release
After PCE reading traders reassess Federal Reserve expectations

News Intelligence

A tech rally means your 401(k) or other investments could see a boost. If you're invested in semiconductor companies like Micron or Qualcomm, you're likely smiling today. Keep an eye on the PCE inflation release. It could impact future Federal Reserve decisions.