S&P, Nasdaq futures rise after bruising tech selloff; Micron earnings on tap

💡 Tech stocks bounce back as Micron's earnings are set to calm investors' nerves

The S&P 500 and Nasdaq futures rose on Thursday, rebounding from a brutal tech selloff that left investors on edge. The move higher came as tech stocks, which had borne the brunt of the selling, showed signs of stabilizing.

Tech Stocks Stabilize

Micron Technology, a bellwether for the chip sector, is set to report earnings on Thursday after the close. The company's results will be closely watched for signs of improvement in the semiconductor industry, which has been grappling with inventory buildup and weak demand.

S&P, Nasdaq Futures Recover

The S&P 500 and Nasdaq futures have been under pressure in recent days, driven by a tech sector selloff that has seen names like $NVDA, $AMZN, and $GOOGL fall sharply. However, the futures have started to recover, with the S&P 500 rising 1.5% and the Nasdaq 100 up 2.5%.

Market Sentiment Improves

The improvement in market sentiment has been driven by a combination of factors, including a rebound in tech stocks and a decline in Treasury yields. The 10-year Treasury yield has fallen to 4.2%, its lowest level in two weeks, which has helped to calm investor nerves.

What It Means for Investors