US stock market today: Micron’s blockbuster results spark chip-stock rally; Nasdaq futures surge 2.2%

Micron's blockbuster fiscal Q3 results, with revenue quadrupling to $41.46 billion from $9.3 billion a year ago and guidance pointing to $50 billion next quarter, reignited the AI-led tech rally. Nasdaq 100 futures surged 2.2 percent, with chip stocks such as Qualcomm up 11.7 percent and Micron gaining 16 percent in pre-market trade. Separately, oil prices slipped to a four-month low as Brent fell to $72.42 and WTI to $68.95, putting the S&P 500 on track for its strongest quarterly gain in six years despite rising expectations of Fed rate hikes.