Stock market today: US futures slip as Micron slides, with data on deck

US stock futures retreated on Thursday after chipmaker Micron ’s outlook put a dent in tech-rally hopes, as investors braced for fresh economic data ahead of an inflation reading key to Federal Reserve policy. S&P 500 futures dropped roughly 0.2%, after rising Wednesday to close not far short of a new all-time high. Futures on the Dow Jones Industrial Average and the tech-heavy Nasdaq 100 also fell about 0.2%.

Memory maker Micron's shares slid almost 6% in pre-market trading. Nvidia was down 1.6%, reviving worries of a return to the sell-off that rattled markets last week, as other AI chip stocks came under pressure. Focus is also on updates on GDP and weekly jobless claims due before the market open, a day ahead of the PCE inflation print on Friday that will influence the Fed's thinking on timing of interest-rate cuts.

Source: News Formal (newsformal.com)

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