Preview of US Stock Market | Three major stock index futures rise together, Micron Technology jumps after performance, and the US May PCE is coming.

Pre-Market Market Trends 1. In the pre-market on Thursday, June 25th, the futures of the three major US stock indexes rose together. As of the time of writing, Dow futures were up 0.19%, S&P 500 futures were up 0.66%, and Nasdaq futures were up 2.08%. 2. As of the time of writing, Germany's DAX index rose 0.63%, the UK's FTSE 100 index rose 0.45%, France's CAC40 index rose 0.49%, and the Euro Stoxx 50 index rose 0.70%. 3. As of the time of writing, WTI crude oil fell 1.12% to $69.55 per barrel. Brent crude oil fell 1.07% to $73.08 per barrel. Market News - Major inflation data is expected as the US announces the May PCE data. The market is anticipating a 0.3% increase in the core PCE price index from May to June, with a 3.4% year-over-year increase. This data is significant as it is the first major inflation data since the Federal Reserve announced its rate decision last week. PCE is a favored inflation indicator for the Fed and any surprises in the data could strengthen the hawkish signals from the Fed's recent monetary policy meeting. - The market is experiencing volatility due to the Fed's shifting policies. Wells Fargo & Company advises investors to be cautious about chasing market rallies and suggests waiting for pullbacks to enter the market. This cautious approach is recommended to maintain a clear long-term perspective amidst market fluctuations caused by the Fed's shift from a dovish to a hawkish stance. - JPMorgan Chase raises its target for the S&P 500 to 7800 points and maintains a bullish outlook on US stocks. JPMorgan believes that US stocks are entering a more optimistic market scenario driven by better-than-expected corporate earnings, increased investment in artificial intelligence (AI), and the potential for a long-term peace agreement between the US and Iran. - Micron Technology, Inc. reports explosive Q3 earnings with revenue increasing over three times and a gross margin of 84.9%, outperforming NVIDIA Corporation and Meta. Micron's third-quarter revenue reached $41.46 billion, a 346% year-over-year increase and a 74% increase from the previous quarter. The company's impressive performance in earnings and revenue has led to a significant market surge, with Micron's stock rising nearly 19% in pre-market trading. - Storage chip and optoelectronic stocks are generally rising, boosted by Micron's strong earnings report. SanDisk, Western Digital Corporation, and Seagate Technology Holdings PLC are among the companies experiencing positive pre-market trading. Additionally, optoelectronic stocks are showing positive trends with companies like Corning Inc, Tower Semiconductor Ltd, and Credo Technology seeing significant gains. - IBM unveils the world's first sub-1nm chip technology that can improve efficiency by 70%. The new chip design from IBM is expected to provide a significant performance boost, with IBM's sub-1nm chip featuring nearly 100 billion transistors packed into a chip the size of a fingernail. This technological breakthrough showcases the potential for continued improvements in performance and efficiency in the semiconductor industry. Important Economic Data and Events Ahead - 8:30 PM (Beijing time): US May PCE Price Index - 8:30 PM (Beijing time): US Q1 Final GDP Annualized Growth Rate - 8:30 PM (Beijing time): US Weekly Initial Jobless Claims as of June 20th - 8:45 PM (Beijing time): Federal Reserve Governor Bowman participates in a discussion on "Regulation and Management of Small Banks" - 3:40 AM (Beijing time the next day): FOMC Permanent Voter and New York Fed President Williams delivers a speech.