Upbeat Micron Earnings Lift Stock Futures While Investors Await Key Economic Data

On Thursday, U.S. stock index futures experienced an upward trend, driven by encouraging earnings from memory-chip maker Micron, which sparked optimism about artificial intelligence developments. As the stock market showed resilience, indexes were on the verge of reaching record levels.

Micron Technology's projected quarterly revenue surpassed predictions, largely due to increased demand for its AI data center chips. This forecast led to a 2.7% pre-market surge in Micron shares, with Nvidia also gaining 1.2% after hitting a new high on Wednesday. Investors are now focused on imminent economic reports.

The upcoming announcements from the Commerce Department, covering first-quarter GDP and durable goods data, are eagerly anticipated by investors. Meanwhile, speculation around potential changes in Federal Reserve leadership, coupled with ongoing interest rate strategies, continues to influence market dynamics.

(With inputs from agencies.)