US stock futures climbed on Thursday, signaling a positive start to October for Wall Street as Treasury yields retreated and investors weighed quarterly results from Micron Technology ahead of upcoming US economic data.
At 08:33 ET (12:33 GMT), S&P 500 futures were up 0.4%, Dow futures gained 0.5%, and Nasdaq 100 futures rose 0.6%.
Treasury yields softened on Thursday morning following a recent climb in the US bond market. Investors are also looking toward Expectations
Micron Technology (NASDAQ:MU) reported fiscal fourth-quarter adjusted earnings of $33.42 per share, topping the $31.16 expected by analysts.
For the current quarter, the memory chipmaker projected adjusted earnings of $38.15 per share, plus or minus $1.00, compared to market expectations of $36.02.
Despite these earnings and guidance figures, Micron shares dipped slightly in premarket trading. The company noted that gross margins would be marginally lower in the current quarter and forecasted higher operating expenses for fiscal 2027.
These results arrived as investors continued to evaluate demand related to artificial intelligence and its influence on the semiconductor sector. Chip stocks in Japan, South Korea, and Taiwan also trended higher on Thursday.
Concerns regarding AI development contributed to volatility among technology stocks throughout September, while several AI organizations have advocated for a more measured pace of development.
Nike Earnings Due After Market Close
Nike is set to report its quarterly results after the closing bell on Thursday, with investors tracking the company’s performance under CEO Elliott Hill.
Nike shares have dropped more than 44% since the start of the year, according to available market data.
US Markets End Mixed Ahead of Employment Data
On Wednesday, the S&P 500 and Dow Jones Industrial Average finished lower, while the Nasdaq Composite rose as Treasury yields climbed.
August US Personal Consumption Expenditures <a Q3 was a difficult one for markets, as the global economy grappled with a fresh inflationary impulse and the resumption of a globally synchronized rate hiking cycle," Deutsche Bank analysts said in a note.
