S&P 500 futures rise 0.3 percent as Micron earnings loom

S&P 500 futures traded 0.3 percent higher and Nasdaq 100 contracts rose 0.5 percent as of 8:00 a.m. ET, with semiconductor and technology shares staging a partial recovery from the prior session’s losses. The company has gained more than 260 percent in 2026 even after a 13 percent drop on Tuesday.

company updates Alphabet shares advanced 0.5 percent after the company was selected to replace Verizon in the Dow Jones Industrial Average. Verizon shares fell 0.5 percent. Cerebras Systems dropped 14 percent after the newly public chipmaker issued an annual sales forecast that disappointed investors.

FedEx shares declined 7 percent following its first earnings report since spinning off its freight unit. FuelCell Energy rose 16 percent after announcing an agreement to supply 380 megawatts of clean power for data centers. Hertz shares fell 16 percent after the company filed to offer $100 million of stock.

Twilio shares gained 3 percent after Goldman Sachs initiated coverage with a buy rating and a $300 price target. Wendy’s shares jumped 23 percent amid increased discussion on social-media trading forums.

geopolitical backdrop SK Hynix said it plans to raise up to 45.45 trillion won, or $29.4 billion, in a U.S. listing to expand memory-chip capacity. The offering would rank among the largest share sales on record. SpaceX sold $25 billion of investment-grade bonds, adding to recent AI-related capital raises that also include Alphabet’s planned $85 billion equity offering.

Oil prices extended declines, with Brent crude falling below $75 a barrel for the first time since the start of the war and WTI futures dropping about 2 percent. Lower crude pushed U.S. diesel prices below $5 a gallon for the first time since mid-March.