

Market Analysis
U.S. stock index futures climbed on Thursday, fueled by renewed enthusiasm for artificial intelligence following Micron’s positive outlook. Investors also awaited key economic data and remarks from Federal Reserve Chair Jerome Powell.
Micron Technology (NASDAQ) surged 15.8% in premarket trading after the chipmaker projected higher-than-anticipated revenue for the first quarter, highlighting strong demand for memory chips in AI computing.
Other semiconductor stocks followed suit, with Nvidia (NASDAQ) up 1.2%, Advanced Micro Devices (NASDAQ) gaining 2.2%, and Broadcom (NASDAQ) increasing 1.7%.
Meta Platforms (NASDAQ) led growth stocks, rising 1.7% after unveiling a new entry-level model in its Quest series of mixed-reality headsets. Alphabet (NASDAQ) climbed 1%, Tesla (NASDAQ) advanced 1.3%, and Microsoft (NASDAQ) edged up 0.7%.
As of 05:21 a.m. ET, Dow E-mini futures had risen by 197 points, or 0.47%, S&P 500 E-minis by 43.5 points, or 0.76%, and Nasdaq 100 E-minis by 268.25 points, or 1.33%. Futures tied to the Russell 2000 small-cap index gained 0.83%.
The S&P 500 and Dow have reached multiple record highs this year, while the Nasdaq is just 3% shy of its own record, driven by investor interest in companies poised to benefit from AI integration.
Expectations of lower interest rates have bolstered the ongoing rally. Investors are now focused on upcoming jobless claims data for the week ending Sept. 21, and the final estimate of second-quarter GDP, set to be released at 8:30 a.m. ET.
On Wednesday, Fed Governor Adriana Kugler expressed strong support for the central bank’s decision to begin easing monetary policy with an unusual half-percentage-point rate cut, as the Fed turns its attention to the labor market.
Market attention now shifts to Powell’s speech at a New York conference, where investors will seek insights on the economic outlook and potential further rate cuts.
According to the CME Group’s (NASDAQ) FedWatch Tool, the probability of a 50-basis-point rate cut in November has risen to 60.8%, up from 38.8% a week ago.
Investors will also monitor comments from several Fed officials, including John Williams, Michael Barr, Michelle Bowman, and Neel Kashkari.
Elsewhere, copper miners like Freeport-McMoRan (NYSE) jumped 3.5%, while lithium miners Albemarle (NYSE) and Arcadium climbed 3.8% and 2.3%, respectively, after reports suggested China is planning to issue special sovereign bonds worth 2 trillion yuan to stimulate its economy.
Optimism extended to U.S.-listed Chinese stocks, with Li Auto (NASDAQ) up 6.7%, PDD Holdings rising 7%, and Alibaba (NYSE) gaining 5.3%.
Paraphrasing text from "Reuters" all rights reserved by the original author.