Micron results spark premarket tech rally, lift Nasdaq futures

Premarket trading on Thursday was led by a sharp move higher in Micron Technology after the chipmaker's quarterly results topped revenue expectations. Shares were indicated roughly 4% above Wednesday's close. The move pushed Nasdaq 100 futures higher than the S&P 500 or Dow Jones Industrial Average.

Bio-Techne, a life-sciences tools company, gapped up about 3% after an analyst upgrade. The analyst cited early-cycle positioning in bioprocessing. The move pushed shares above their 50-day moving average for the first time since late January.

Qualcomm gained about 1.5% in early indications, tracking the broader tech bounce. The stock carries an Alpha Score of 47 from AlphaScala's internal model, a label that flags neutral risk-reward. The score reflects strong demand for mobile chips and automotive wins. Valuation leaves limited room for multiple expansion at current levels.

S&P 500 futures added roughly 0.3% after a two-day losing streak driven by tariff headlines and a spike in crude oil. Thursday's rebound was broad. Advancers outnumbered decliners two-to-one in early indications. The scale of moves remained modest compared to the previous week's swings. Volume was about 10% below the 20-day average, traders noted.

Later in the session, traders will watch weekly jobless claims and a batch of Fed-speak for any shift in the rate path. The broader market's direction may hinge on next week's Nvidia earnings and the personal consumption expenditures inflation report.

The gap-ups are a relief bounce, not a structural re-rate. Micron's number was good. The stock had already fallen 12% from its February high entering the print. The bulk of the move is catch-up.