Nasdaq Futures Eye Overdue Rally After Micron Earnings

Stock futures look ready to rebound today, for real this time. Futures on the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are both confidently higher, but the bigger story is the beleaguered tech sector. Thanks to a beat-and-raise from Micron (MU), semiconductor and memory stocks are buzzing after their recent sharp selloff.

The Nasdaq-100 (NDX) is poised to recoup yesterday's losses, and then some. Investors are also finding some encouragement in the Fed's preferred inflation gauge, the personal consumption expenditures (PCE) index, which rose by 0.4% in May, in line with expectations. On an annual basis, the 4.1% annual rate hit its highest level since October 2023.

Continue reading for more on today's market, including:

• Solar stock has quite the bullish thesis.
• Our summer stock picks are off to a hot start.
• Plus, more on Micron; Big Blue's breakthrough; and Darden earnings disappoint. 

5 Things You Need to Know Today

1. The Cboe Options Exchange saw roughly 2.3 million call contracts and 1.3 million put contracts traded on Wednesday. The single-session equity put/call ratio fell to 0.56, while the 21-day moving average remained at 0.58. 
2. Micron Technology Inc (NASDAQ:MU) stock is 17.6% higher before the bell, after the chip giant reported third-quarter earnings and revenue that blew past estimates. No fewer than 10 brokerages have hiked their price targets in response, the highest coming from Needham to $1,650. Micron stock is up 719% in the last 12 months.
3. IBM Corp (NYSE:IBM) stock is up 3.1% ahead of the open, after Big Blue unveiled the world’s first sub‑1nm ‘nanostack’ chip technology, with production targeted within about five years. IBM stock is down 11.2% in 2026 going into today.
4. The shares of Darden Restaurants Inc (NYSE:DRI) are 3% lower in electronic trading, after the Olive Garden parent reported fiscal fourth-quarter revenue that missed expectations. DRI is 16% higher in 2026, but below its year-over-year breakeven level.

5. This week will bring several key economic indicators. 

Micron Helps Overseas Stocks Rally

Asian markets closed mostly higher on Thursday as Micron earnings gave tech stocks a lift globally. The South Korean Kospi jumped 5.4%, as SK Hynix and Samsung Electronics surged, while Japan’s Nikkei rose 4.6%, and China’s Shanghai Composite added 0.2%. Hong Kong’s Hang Seng was the only loser, sinking into the red with a 1.4% drop.

Tech is giving European markets a lift as well. The German DAX is leading the gainers with a 0.7% pop, while London’s FTSE 100 and the French CAC 40 are 0.6% and 0.5% higher, respectively.