Stock Futures Surge as Tech Giants Propel Market Optimism
U.S. stock index futures rose on Thursday, bolstered by Micron's strong earnings outlook and optimism in AI chip demand. Nasdaq and S&P 500 approached record levels, while investor focus shifted to economic data and potential changes in Federal Reserve leadership as Trump eyes a successor to Jerome Powell.
On Thursday, U.S. stock index futures climbed as robust earnings from memory-chip manufacturer Micron Technology amplified excitement surrounding artificial intelligence advancements, pushing key indices near their historic peaks. This optimistic shift comes as investors await crucial economic data releases, including GDP and jobless claims.
The tech-driven Nasdaq and benchmark S&P 500 indices neared record highs, assisted by a 2.7% premaket surge in Micron shares. Despite ongoing geopolitical tensions and trade tariffs under President Trump's administration, these gains underscore investor faith in AI-driven growth, exemplified by Nvidia reaching new highs.
Federal Reserve Chair Jerome Powell signaled a cautious approach to interest rate adjustments following his congressional testimony. Meanwhile, reports suggest President Trump may announce a new Fed Chair nominee, potentially influencing monetary policy. As traders anticipate possible rate cuts by 2025, significant focal points remain first-quarter GDP data and further Federal Reserve remarks.
(With inputs from agencies.)
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