Wall Street Week Ahead: Investors see Micron earnings as pulse check of AI rally momentum

Investors are watching Micron's upcoming earnings as a key test of the AI-driven rally on Wall Street, with the Philadelphia Semiconductor Index hitting a record high and rising 7% for the week. Apple has agreed to partner with Intel to design and manufacture chips in the US, lifting the S&P 500 nearly 1% on the week. Big Tech AI spending is set to rise past 700 billion dollars this year from 400 billion dollars in 2025, though macro concerns around the Federal Reserve's preferred inflation measure and first-quarter GDP data loom next week.