24.06.202611:46:27UTC+00US Futures Inch Higher after Chip Selloff

US equity futures edged higher after yesterday’s sharp selloff in chipmakers. Nasdaq 100 futures rose about 0.5%, while S&P 500 and Dow futures hovered just above flat. Micron gained roughly 3% in premarket trading ahead of its earnings release after the close, rebounding from a 13% drop in the prior session sparked by renewed concerns that hyperscalers may have overspent on capital expenditures and that AI companies could soon scale back infrastructure outlays.

Other semiconductor and memory names also bounced, with Nvidia, Lam Research, and SanDisk all poised to open higher. Fundraising activity in the sector remained robust: SK Hynix is seeking to raise about $29 billion via a US listing, coming on the heels of the record-setting SpaceX IPO. Meanwhile, Treasury yields stayed elevated across the curve—even as oil prices slipped back to pre-Iran war levels—reflecting persistent worries that the Federal Reserve may implement more than one rate hike this year. Financial stocks traded largely flat in premarket hours.