S&P 500 index(SPX.US) futures rose on Wednesday after technology stocks rebounded in premarket trade, with investors looking ahead to the release of Micron Technology, Inc.(MU.US)’s earnings after the bell.

Futures tied to the broad market index and NASDAQ-100(NDX.US) futures added 0.3% and 0.6%, respectively. Futures tied to the Dow Jones Industrial Average(DJI.US) added 15 points, or 0.03%.

Shares of Micron rose almost 4% in premarket trading, and Sandisk Corporation(SNDK.US) was up nearly 3%. The two memory stocks tumbled 13% in the previous session. The Roundhill Memory ETF(DRAM.US), down 14% on Tuesday, moved 3% higher in premarket trade.

Micron will report its latest earnings after the market closes on Wednesday. Analysts polled by FactSet see earnings of $20.83 per share on revenue of $35.75 billion.

Intel Corporation(INTC.US) was up more than 1% in the premarket, having shed 6% in Tuesday’s session. QUALCOMM Incorporated(QCOM.US), which shed 8% Tuesday, was up more than 1% as well.

Wednesday’s premarket moves come after a rout in the technology sector dragged the S&P 500 index(SPX.US) and tech-heavy NASDAQ(IXIC.US) lower on Tuesday, with the averages losing 1.44% and 2.21%, respectively. The blue-chip Dow Jones Industrial Average(DJI.US) shed 45.87 points, or 0.09%.

Investors sold off semiconductor-adjacent stocks in Tuesday’s session, with the VanEck Vectors Semiconductor ETF(SMH.US) ending the day 7% lower.

Arguments around technical positioning exhaustion “may be true, but I would argue there might be some fundamental risk emerging as well,” said Dan Skelly, head of market research and strategy at Morgan Stanley Wealth Management, on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.

“We’ve heard about pricing wars among some of the model builders, we’ve heard about rental prices for old GPUs starting to decline, and we’ve also seen a shift in tone from Microsoft, who led the AI launch three years ago with ChatGPT and their partnership with Open AI,” he added. “Microsoft [is] now talking about a change in strategic direction for lower-cost models.”

Micron Technology, Inc.(MU.US) has had an astronomical run in 2026, with shares hitting a new all-time high on Monday and ending Tuesday at $1,051.77 per share. But Jay Woods, chief market strategist at Freedom Capital Markets, warned the stock could fall after the earnings report.

It might go “down to $1,000. That’s going to sound like a big drawdown, but it’s something that traders will be watching as it starts to get in line with this 20-day moving average,” he said.

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As of 03:52 PM Riyadh Time, top pre-market movements are as follows:

Brent Crude Oil Hits New Low Post-Iran Tensions

• Brent crude oil fell below US$76 to US$75.59/barrel, down 1.93%, its lowest since Feb 28, before Middle East conflict.
• Oil prices drop as market expects better shipping in Strait of Hormuz; Trump urges lower gasoline retail prices.
• The US Senate passed a war powers resolution on June 23, with 50-48 votes, to limit Trump's ability to wage war against Iran, first such move by Congress.

South Korean Stocks Rebound Over 3%

• Korean stocks surged >3% after a near 10% drop, fueled by retail investors buying on dips; the won weakened vs. the dollar, and 3-year bond yields rose.
• US semiconductor ETFs dropped Tuesday as South Korea's tech rout spread, sparking concerns before Micron Technology, Inc.(MU.US)'s key earnings report

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SpaceX Secures Massive New Funding

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• SpaceX(SPCX.US) launched a Falcon 9 rocket on Tuesday to test Starfall, a disc-shaped uncrewed capsule for returning cargo from space. Read in detail>>
• Robinhood(HOOD.US) CBO Steve Quirk states over 850,000 customers requested SpaceX shares during its IPO, a record for the platform. Read in detail>>

Cathie Wood's Big Tech Buying Spree

Ark Invest, led by Cathie Wood, significantly boosted stakes in Tesla Motors, Inc.(TSLA.US), Palantir(PLTR.US), Cerebras Systems(CBRS.US), Amazon.com, Inc.(AMZN.US), and Alphabet Inc. Class A(GOOGL.US) on Tuesday. Read in detail>>

Nvidia Faces AI Infrastructure Challenge

J.P. Morgan's Cembalest says Anthropic's deal with Amazon.com, Inc.(AMZN.US) Web Services is a major threat to NVIDIA Corporation(NVDA.US) high-end chip dominance. Read in detail>>

Micron's Earnings Impact on ASML's AI Boom

Analyst says Micron Technology, Inc.(MU.US) earnings could be key for ASML Holding NV ADR(ASML.US), as memory market tightness may drive years of semiconductor spending. Read in detail>>

Bank Of America Bullish On Micron

Bank of America sees 40% more upside for Micron Technology, Inc.(MU.US), believing its rally in the AI era is far from over. Read in detail>>

Masayoshi Son Denies AI Bubble Claims

SOFTBANK GROUP CORP(SFTBY.US) CEO Masayoshi Son told shareholders on Wednesday that AI is still in early stages and calling it a bubble is an "insult".

Cerebras Stock Dips Post-IPO Earnings

Cerebras Systems(CBRS.US) reported revenue nearly doubling but predicted a gross margin decline, causing its stock to fall 10% in after-hours trading.

FedEx Reports Strong Earnings

• FedEx Corporation(FDX.US) reports Non-GAAP EPS of US$6.31, beating estimates by US$0.36, with revenue of US$25B, exceeding by US$970M, and provides 2026 forecast.
• FedEx projects CY 2026 adjusted EPS of US$16.90-US$18.10, targeting US$3.9B CapEx and up to US$1B in buybacks.

MoneyHero's Earnings Disappoint

MoneyHero reports GAAP EPS of US$-0.20, missing by US$0.14, while revenue of US$16.52M beats by US$0.34M.