Micron Shares Surge 5% Premarket After 13% Friday Plunge
MU•Micron Technology shares rose over 5% in premarket trading Monday after a 13% slide on Friday, while Nasdaq futures pointed to a 1.2% opening gain. Rising Middle East tensions pushed crude oil above $92 a barrel and Treasury yields higher ahead of May consumer price data.
1. Premarket Recovery
Micron Technology shares rallied more than 5% in premarket trading Monday, partially reversing a 13% decline on Friday. The rebound coincided with Nasdaq futures pointing to a 1.2% gain at the opening bell.
2. Geopolitical Tensions and Oil
Renewed fighting between Iran and Israel drove crude oil above $92 a barrel, adding volatility to equity markets. Energy-related costs could weigh on manufacturing and broader semiconductor demand if tensions persist.
3. Bond Yields and Inflation Watch
Treasury yields climbed as investors positioned for a possible Federal Reserve rate increase later this year. All eyes are on the upcoming May consumer price index release for cues on inflation and monetary policy direction.
