US Futures Inch Higher after Chip Selloff

2026-06-24 11:46 By Andre Joaquim 1 min. read

US equity futures inched higher following yesterday's selloff for chip producers.

Contracts tracking the Nasdaq 100 gained 0.5%, while those for the S&P 500 and the Dow inched above the flatline.

Micron traded around 3% higher premarket ahead of its earnings after the bell.

It followed the 13% plunge last session on fresh doubts that capital expenditures by hyerperscalers were overdone and AI companies are due to slow spending in infrastructure.

Other semiconductor and memory producers rebounded from the selloff, with Nvidia, Lam Research, and Sandisk set to open higher.

Fundraising in the sector remained at soaring levels as SK Hynix was looking to raise $29 billion with a US listing, shortly after the record SpaceX IPO.

In turn, yields remained elevated along the curve despite the return of oil prices to pre-Iran war levels amid the risk that the Federal Reserve could deliver more than one rate hike this year.

Financial stocks traded muted ahead of the open.



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