AI Optimism Boosts U.S. Stock Futures

U.S. stock index futures climbed amid enthusiasm for artificial intelligence, sparked by Micron’s positive forecast. Key tech stocks including Nvidia, AMD, and Meta saw gains. Investors anticipate economic data and comments from Federal Reserve Chair Jerome Powell, with the market buoyed by potential interest rate cuts.

U.S. stock index futures surged on Thursday, driven by enthusiasm for artificial intelligence, following an optimistic forecast from Micron Technology. The company’s shares spiked 15.8% in premarket trading after it projected better-than-expected first-quarter revenue, highlighting robust demand for memory chips utilized in AI computing.

Other chip stocks also rose, with Nvidia up 1.2%, Advanced Micro Devices climbing 2.2%, and Broadcom increasing by 1.7%. Additionally, Meta led gains among other growth stocks with a 1.7% rise, after revealing a budget-friendly version of its Quest mixed-reality headsets.

In the broader market, Dow E-minis gained 197 points, S&P 500 E-minis went up 43.5 points, and Nasdaq 100 E-minis advanced 268.25 points. Investors are looking forward to economic data releases and insights from Federal Reserve Chair Jerome Powell, with growing expectations for interest rate cuts further fueling the rally.