AI optimism lifts futures as Micron beats; inflation data stirs rate-hike debate

Stock futures climbed after Micron Technology beat earnings and boosted AI enthusiasm, with Nasdaq futures up about 2.4%, S&P 500 futures up about 0.8%, and Dow futures up around 0.3% as investors eye the Fed’s inflation data; Micron’s strong outlook spurred relief over AI valuations, while Qualcomm expanded into data-center products. Brent and WTI oil slid to multi-week lows on easing supply concerns. The latest Personal Consumption Expenditures price index showed prices up 4.1% year over year in May and 0.4% month over month, keeping a rate-hike debate alive.