Traders work on the floor of the New York Stock Exchange (NYSE) on June 24, 2026 in New York City, USA.
Brendan McDiarmid | Reuters
U.S. stock futures rise early Thursday, helped by selloff micron technology The results came as traders awaited the release of key inflation indicators for May.
S&P500 futures and Nasdaq 100 futures They rose by 0.5% and 1.8%, respectively. Futures linked to the Dow Jones Industrial Average It was flat.
Micron’s stock rose about 15% in after-hours trading Wednesday after the company reported third-quarter earnings that beat analysts’ expectations. Micron also forecast revenue of $50 billion for the quarter, up from $11.3 billion in the year-ago period and above expectations of $43.58 billion.
Semiconductor-related stocks Qualcomm The company also raised its forecast for non-mobile phone sales in fiscal 2029, forecasting $40 billion, resulting in a 14% increase. This is up from the previous estimate of $22 billion. Other chip names: sandisk, western digital, ram research, KLA and applied materials Everyone stood up and shouted in sympathy.
both are wider S&P500 and technology-driven Nasdaq Composite The index fell in regular trading on the day, dropping 0.10% and 0.43%, respectively. Excellent company Dow It bucked the trend and rose 182.06 points (0.35%).
Asia-Pacific markets ended broadly higher. Korean Kospi Japan led the gains, rising 5.42% to 8,930.30. Nikkei Stock Average It rose 4.61% to 72,366.34. australian benchmark S&P/ASX 200 It fell 0.68% to 8,748.70. Hong Kong’s Hang Seng index fell 1.6% in the last hour of trading, while the mainland’s CSI300 index rose 1.56% to 5,020.1.
Ryan Detrick, chief market strategist at Carson Group, noted that the market’s switch away from technology stocks in recent trades is actually constructive for larger equity creation this year.
“In other words, it’s broadened,” he told CNBC’s “The Exchange” Wednesday afternoon. “Technology is down, but it’s cyclical. I’ve been on the network for a while saying we like industrial, we like finance. It’s a really good sign to see this cycling… I think it’s constructive. Give June a little break — June is swooning — it’s not that surprising.”
The White House on Wednesday asked Congress for $87.6 billion in additional spending, including to pay for the Iran war. Congressional Democrats quickly objected to the request in a letter from Office of Management and Budget Director Russell Vought to House Speaker Mike Johnson.
On Thursday morning, investors will focus on the May Personal Consumption Expenditure Price Index, the Federal Reserve’s recommended measure of inflation. Economists polled by Dow Jones expect the index to rise 0.5% on a monthly basis, slightly above April’s 0.4% rise, and for the year to rise 4.1%, also above April’s 3.8% rise.
Excluding volatile food and energy prices, the consensus expects core PCE to rise 0.3% month-on-month and 3.4% year-on-year. Both of these estimates are higher than April’s respective core PCE measurements of 0.2% monthly and 3.3% over the past 12 months.
mccormick, commercial metal, Darden Restaurants and winnebago It plans to report earnings before the opening bell on Thursday. Traders will also be looking at the final first-quarter gross domestic product (GDP) figures, preliminary May personal income and durable goods orders figures, and the number of new jobless claims for the week ending June 20.
