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Happy Thursday. The Personal Consumption Expenditure Price Index, also known as the Federal Reserve’s favorite inflation measure, is scheduled to be released at 8:30 a.m. ET. The report is even more important following last week’s Fed interest rate decision.
Stock futures are rising this morning. of S&P500 Yesterday I posted a somewhat negative session.
Here are five important things investors need to know to start their trading day.
1. Play chips
The Micron Technology logo appears on the screen of a smartphone placed on a reflective surface on which a stock chart is projected in Creteil, France, on May 27, 2026.
Samuel Boivin | Null Photo | Getty Images
shares of micron It was up more than 17% before the bell after yesterday’s much better-than-expected earnings report. The memory maker said its fiscal third-quarter sales more than quadrupled, easily beating analysts’ expectations, and that it expects this quarter’s profit to beat expectations.
Here’s what you need to know:
Micron also said its gross profit margin rose to 84.9%. That’s the highest percentage of any major U.S. tech company, ahead of Meta’s 81.9% and Nvidia’s 75%, and the stock is poised to open today at an all-time high with double-digit gains overnight. Micron stock is up more than 700% in the past 12 months. Other chip names are rising in line this morning, following the Micron-led sector’s sharp decline earlier this week. High-tech oriented Nasdaq Composite It has fallen for three consecutive days. Share prices of peer chip makers Qualcomm After-hours trading is up 10% after the company nearly doubled its expected revenue from non-mobile phone divisions in fiscal 2029. Follow us here for live market updates.
2. Change of plans
U.S. President Donald Trump (center), Republican Sen. Rick Scott of Florida (left), Republican Sen. John Barrasso of Wyoming (R), and others speak to reporters after a lunch with Senate Republicans at the U.S. Capitol in Washington, DC, on June 24, 2026.
Saul Loeb | AFP | Getty Images
President Donald Trump abruptly canceled his signing of a bipartisan affordable housing bill yesterday, just over an hour before he was scheduled to sign the bill at the Capitol. President Trump said in a post on Truth Social that he will not sign the SAVE America Act, the controversial voter identification bill, until Congress passes it.
A few hours later, Trump attended a luncheon with Senate Republicans on The Hill. The meeting was controversial, but one attendee said the housing bill was not discussed, according to CNBC’s Justin Papp. President Trump has 10 days to sign or veto legislation aimed at increasing housing supply and affordability.
3. Get some steam
U.S. Energy Secretary Chris Wright attends the Bloomberg Energy Security Executive Briefing on Friday, June 12, 2026 in Houston, Texas, USA.
F. Carter Smith | Bloomberg | Getty Images
Oil prices erased their wartime gains as more tankers began to pass through the Strait of Hormuz.
Trade tracking firm Kupler said more than 20 tankers carrying about 35 million barrels of crude oil had passed through Hormuz since the United States and Iran agreed to reopen a key shipping route. Daily oil shipments through the strait have increased to about 4.8 million barrels per day, but still below the prewar export level of 15 million barrels per day.
Energy Secretary Chris Wright said yesterday that Iran can no longer blockade the Strait of Hormuz, citing U.S. military escorts to commercial ships. Wright will appear on CNBC’s “Squawk on the Street” today at 10:30 a.m. ET. Watch live on CNBC or CNBC+.
4. Race to the finish line
A Land Cruiser on display at a Toyota Motor Dealership in Manhattan, New York City on May 8, 2026.
Spencer Pratt | Getty Images
toyota is establishing a position in general motors. The Japanese automaker’s U.S. sales are expected to rise about 1% in the first half of this year, while GM’s sales are expected to fall more than 7%, according to new forecasts from Cox Automotive.
As CNBC’s Michael Weiland reports, Toyota is benefiting from the growing popularity of hybrid cars, long a leader. GM, meanwhile, is betting big on all-electric vehicles, calling hybrids a transitional technology.
“GM may be looking over their shoulder,” said Charlie Chesbrough of Cox Automotive. He said he doesn’t currently expect Toyota to overtake GM, but said the trend is “concerning” for America’s largest automaker.
5. In the passing lane
Wendy’s restaurant photographed on November 10, 2025 in Austin, Texas.
Brandon Bell | Getty Images
Individual investors are not cold-hearted Wendy’s. The fast food company seems to be the latest meme stock, jumping 25% in Wednesday trading.
Wendy’s was one of the most mentioned stocks on Reddit trading forums before and during the rally, according to the data. Net inflows from small traders blew out the stock’s recent average in yesterday’s trading.
As CNBC’s Yun Li writes, yesterday’s move reflects the retail-driven short squeeze seen during the 2021 meme stock boom. But Wendy’s stock rose another 7% in premarket trading this morning, showing that family investors aren’t done investing just yet.
daily dividend
—CNBC’s Lisa Kai-Lai Hung, Kif Leswing, Jordan Nove, Sean Conlon, Justin Papp, Angela D. Grayling Keene, Spencer Kimball, Michael Weiland, Yun Li and Tanaya Machel contributed to this report.
Luke Fountain helped produce this newsletter. Josephine Rozzelle edited this version.
