Nasdaq futures surged 2.3% and S&P 500 futures gained 0.8% premarket as Micron shares jumped 18% post-earnings and Qualcomm added 13% after securing a multi-generation AI data center CPU deal. Retail sentiment for the Invesco QQQ Trust remains bullish ahead of the Federal Reserve’s PCE Price Index and upcoming GDP revisions.
Nasdaq futures climbed 2.3% and S&P 500 futures rose 0.8% in early trade as investors digested stronger semiconductor results and upbeat AI targets. Dow futures were up 0.1% and Russell 2000 futures gained 0.4%, signaling broad market optimism ahead of key economic releases.
Micron Technology shares jumped 18% in premarket action after reporting record fiscal Q3 revenue and forecasting tight memory supply through 2027 due to AI-driven data center demand. Broker upgrades followed, with analysts doubling price targets above $1,500 per share.
Qualcomm rallied 13% after unveiling a multi-generation deal to supply AI CPUs to a major social media platform and setting aggressive long-term data center targets. The move underscores Qualcomm’s strategy to capture growing AI infrastructure spending.
Retail sentiment for the Invesco QQQ Trust remains firmly bullish despite recent tech selloff, reflecting confidence in large-cap growth names. Market participants are awaiting the Fed’s PCE Price Index, GDP revisions, jobless claims and durable goods data for further rate-path clues.
