Equities climb after Micron outlook and oil drop ease fears

Global stocks bounced back as Micron Technology’s upbeat sales outlook revived enthusiasm for AI-linked chip demand, while Brent crude slid below its pre-war closing level.

US equity futures led the move higher, with Nasdaq 100 contracts up 1.8% and S&P 500 futures rising 0.5%. In Asia, South Korea’s Kospi jumped as much as 6%, and the MSCI Asia Pacific Index gained 1.7%.

Micron’s outlook lifts chip sentiment and tech futures

Micron, the largest US maker of memory chips, surged about 15% in after-hours trading. The stock move followed a quarterly revenue forecast that exceeded Wall Street expectations by a wide margin.

For investors, the update was a high-profile signal that spending tied to artificial intelligence—particularly in data centers—continues to translate into stronger demand for critical components such as memory. The result helped restore confidence after a tech-driven pullback had pushed a major global benchmark to its lowest point in roughly two weeks.

Memory chips are often treated as a bellwether for broader computing cycles because they sit inside PCs, smartphones, and servers. In the current market narrative, they have also become a proxy for how quickly AI infrastructure is being built out across the cloud ecosystem.

Brent crude falls below pre-war close as tensions ease

Oil prices provided a second tailwind for risk assets. Brent crude fell for a fourth straight session, trading below $72.48 a barrel, which marked its closing level before the war-related spike.

The decline followed reports that crude flows through the Strait of Hormuz increased as progress emerged on a US-Iran peace deal. Because the strait is a vital transit route for global oil shipments, any perceived reduction in disruption risk can quickly feed through to prices.

Lower crude can ease inflation pressures by reducing energy costs across transportation, manufacturing, and consumer spending. For equities, that dynamic can be supportive, particularly when investors are already watching central banks for signs that price growth is cooling enough to allow rate cuts.

Inflation data in focus as dollar eases from recent high

Attention is now shifting to the Federal Reserve’s preferred inflation indicator, due soon, which traders will use to reassess the path of US interest rates. The report is closely watched because it can influence how long policymakers keep borrowing costs restrictive.

In currency markets, the Bloomberg Dollar Spot Index edged lower after hitting a seven-month high on Wednesday. The earlier rise had been linked to expectations that the Fed may keep policy tighter for longer than previously priced.

US government bonds were slightly weaker after rallying in the prior session, pointing to a modest reversal in the flight-to-safety bid that had accompanied the recent risk-off stretch. The cross-asset moves suggest markets are balancing two forces: AI-driven earnings optimism on one side, and uncertainty over the inflation and rates outlook on the other.

Next steps hinge on whether upcoming inflation readings confirm a cooling trend and whether energy prices remain subdued. Investors will also watch for follow-through in chip and broader tech shares, as that segment has been central to both the recent selloff and the rebound.