Stocks Surge as Inflation Data Looms Amid Tech Sector Upswing

U.S. stock index futures climbed as traders awaited significant inflation data, driven by elements like tariffs, which could reveal pricing trends. Noteworthy gains came from Micron, buoyed by optimistic earnings projections, though broader anxieties persist around corporate monetization of AI technologies.

U.S. stock index futures experienced gains on Thursday as investors anxiously awaited a critical inflation report anticipated to shed light on the effects of tariffs on consumer prices. While commended projections for chipmaker Micron momentarily mitigated concerns over tech valuations.

The Labor Department's report, expected to showcase the most significant annual increase in consumer prices in 18 months, underscores growing affordability issues linked to U.S. import tariffs. However, potential inconsistencies due to the recent government shutdown might affect the data's accuracy. More reliable jobless claims data later in the day may provide further insights.

Forecasts indicate a shift towards easing of monetary policy with a 50-point basis reduction expected next year. Meanwhile, reports of Micron's earnings, predicting profits nearly doubling analyst expectations due to high demand from AI data centers, further propelled the market.

(With inputs from agencies.)