Nasdaq 100 Futures Rise 0.61% Ahead of Micron Earnings as Kospi Rebounds 3%
Updated
Updated · CNBC · Jun 23
Nasdaq 100 Futures Rise 0.61% Ahead of Micron Earnings as Kospi Rebounds 3%
3 articles · Updated · CNBC · Jun 23
Summary
Nasdaq 100 futures rose 0.61% and S&P 500 futures gained 0.24%, while Dow futures slipped 52 points as traders positioned for Micron’s earnings after Wednesday’s close.
Micron and Sandisk each added about 1% in extended trading after both sank 13% in the regular session, while the Roundhill Memory ETF rebounded 2% after a 14% drop.
Tuesday’s sell-off cut the Nasdaq Composite 2.21% and the S&P 500 1.44%, with the VanEck Semiconductor ETF down 7%, Intel off 6% and Qualcomm losing 8% as investors rotated into defensive stocks.
South Korea’s Kospi jumped more than 3% after a 10% plunge a day earlier, while Japan’s Nikkei fell 0.57% and Hong Kong’s Hang Seng rose 0.57% as Asia weighed whether tech shares can stabilize sentiment.
Micron’s report is the next key test: FactSet expects $20.83 a share on $35.75 billion in revenue after the stock hit a record Monday and closed Tuesday at $1,051.77.