U.S. stock futures mixed as Micron outlook boosts AI-chip demand

  • U.S. stock futures traded mixed before the fourth quarter’s first session.
  • Micron’s customer commitments reached $32 billion, up from $22 billion in June.
  • Nike and Tencent faced investor scrutiny over turnaround progress and AI infrastructure spending.

U.S. stock futures were mixed ahead of the first trading session of the fourth quarter, following a volatile September in which the S&P 500 fell 0.45%, the Dow dropped 4.29% and the Nasdaq gained 1.86%. Micron shares edged higher after the chipmaker issued a quarterly revenue forecast above expectations and said customer commitments under long-term supply agreements had risen to $32 billion from $22 billion in June. Nike was set to report results after the closing bell as investors assess CEO Elliott Hill’s turnaround plan, while shares have fallen more than 44% this year. September U.S. manufacturing data, including the Institute for Supply Management’s purchasing managers’ index (business activity survey), was also due. Separately, the Financial Times reported that Tencent agreed to a five-year, $7 billion Oracle lease for about 100,000 advanced artificial intelligence chips across data centers in southeast Asia.

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