US stock futures retreated on Thursday after chipmaker Micron’s (MU) outlook put a dent in tech-rally hopes, as investors braced for fresh economic data ahead of an inflation reading key to Federal Reserve policy.
S&P 500 futures () dropped roughly 0.2%, after rising Wednesday to close not far short of a new all-time high. Futures on the Dow Jones Industrial Average () and the tech-heavy Nasdaq 100 () also fell about 0.2%.
Stocks are struggling in the wake of Micron’s sales forecast for the current quarter, which met expectations but failed to satisfy investors looking for stellar outperformance from AI-linked companies.
Bullishness around AI has helped lift the benchmark S&P 500 (^GSPC) to a 15% gain this year. But concerns are growing that the rally could be at risk if the handful of tech companies driving most of those gains stop topping already lofty expectations.
Memory maker…
