Micron Tops Results, Spurs 2.2% Nasdaq Futures Rally
MU•Micron’s better-than-expected quarterly results lifted Nasdaq 100 Futures 2.2% to 30,174 points and sparked a semiconductor stock rally while investors await the Fed’s PCE inflation reading. A hotter-than-expected PCE print could pressure growth stocks like Micron through rate-hike fears, while a softer outcome may bolster AI-driven valuations.
1. Micron’s Earnings Beat Expectations
Micron posted quarterly revenue and earnings per share above consensus, driven by strong memory chip demand in AI data centers. The results lifted investor sentiment, pushing Nasdaq 100 Futures up 2.2% to 30,174 points and leading a broad semiconductor rally.
2. Fed’s PCE Report to Influence Rate Outlook
Investors are focused on today’s PCE inflation reading, the Federal Reserve’s preferred gauge. A hotter print could trigger concerns of further rate hikes and weigh on high-growth names like Micron, whereas a softer outcome may reinforce expectations of easing policy and support AI-driven valuations.
