$Western Digital(WDC)$ U.S. stock futures rose in pre-market trading on Thursday, boosted by a strong earnings report from Micron Technology, as traders looked ahead to the release of key inflation data for May.
S&P 500 futures and Nasdaq 100 futures climbed 0.7% and 2.1%, respectively. Futures tied to the Dow Jones Industrial Average were up 116 points, or 0.2%.
Micron surged 18% after the chipmaker reported fiscal third-quarter results that topped analysts' expectations. Fellow semiconductor stock Qualcomm gained 10% after raising guidance for its non-handset revenue in fiscal 2029. Other chip names, such as Sandisk, Western Digital, Lam Research, KLA, and Applied Materials, also rose. Chip stocks in Europe also posted gains in Thursday's trading session, with ASMI, Be Semiconductor, and Soitec all rising sharply.
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