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.
More context
Timeline
- 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
Why it matters
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.
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
