Stocks Rally Before the Open on Upbeat Micron Earnings, U.S. PCE Inflation Data

September S&P 500 E-Mini futures (ESU26) are up +0.78%, and September Nasdaq 100 E-Mini futures (NQU26) are up +2.15% this morning as upbeat quarterly results and guidance from memory chipmaker Micron Technology boosted sentiment.

Micron Technology (MU) jumped over +16% in pre-market trading after the largest U.S. maker of computer memory chips posted upbeat FQ3 results, issued FQ4 sales guidance that far exceeded Wall Street estimates, and said the chip shortage would extend beyond 2027. Also aiding sentiment was Qualcomm (QCOM), whose shares surged more than +11% in pre-market trading after the chipmaker raised its long-term non-handset revenue target and disclosed that two Big Tech companies were among its customers.

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Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/stocks-rally-open-upbeat-micron-103634551.html)