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Wall Street futures pointed moderately higher Thursday morning after memory-chip maker Micron Technology issued strong fiscal fourth-quarter results and guidance.
The report bolstered investor confidence that demand for artificial intelligence infrastructure is durable, providing support for chip and AI-related stocks in pre-market trading.
In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.7%, and the Dow Jones Industrial Average was up 0.1%. The VanEck Semiconductor fund, ticker SMH, traded up 1% before the opening bell.
Several factors tempered the overall sentiment in pre-market action. West Texas Intermediate crude oil futures traded up 1.5% to $91.77 a barrel, while yields on 10-year US Treasuries inched up to 5.31%.
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