Micron’s stronger-than-expected earnings drive pre-market gains, easing AI-related concerns and boosting broader equity sentiment.
Micron’s earnings beat sent its shares up 16% in pre-market trading, fueling optimism in tech stocks and lifting S&P 500 futures by 0.6% and Nasdaq futures by 2.0%. The rally follows concerns over AI demand and broader market volatility, with Micron poised to surpass its record high at Monday’s open.
Asian markets surged, with the Nikkei closing 4.6% higher, while European equities followed suit. WTI crude fell 0.7% to $69.83, gold dropped 0.5% to $3,980, and the US 10-year yield rose 1.7 bps to 4.42%. USD strengthened, while NZD lagged.
Bitcoin edged up 0.5% to $61,186, reflecting mixed sentiment in risk assets. The session remained cautious ahead of Wall Street’s open, with traders weighing Micron’s performance against broader macroeconomic uncertainties.