US stock market today: Micron’s blockbuster results spark chip-stock rally; Nasdaq futures surge 2.2% (opens original article in a new tab)

Micron's strong AI-related earnings drove a chip-stock rally, with Nasdaq futures surging 2.2%, while oil prices fell to four-month lows amid reduced supply concerns and Middle East peace optimism.

• Micron's earnings show AI investments are generating strong returns, boosting chip stocks and Nasdaq futures by 2.2%
• Brent and WTI crude prices fell to four-month lows amid reduced oil supply concerns and Middle East peace optimism
• US stock futures rose with Nasdaq 100 up 2.2%, S&P 500 and Dow Jones up 0.8% and 0.2% respectively
• Federal Reserve's PCE inflation data may influence rate hike expectations, with traders betting on a September hike and possible December increase