Nasdaq futures rise as SK Hynix boosts chips before Fed decision, earnings

What happened

Nasdaq futures rose on Wednesday, lifted by memory-chip stocks after SK Hynix reported a more than sevenfold jump in quarterly profit. Micron gained 4% before the bell, while investors awaited major earnings and the Federal Reserve's rate decision.

Confirmed

Global impact / market context

Strong memory-chip profit at SK Hynix signals that spending on artificial intelligence equipment remains healthy, which can support revenue for chipmakers like Micron, Nvidia and AMD. Higher chip sales can lift profits and share prices across the semiconductor industry.

Analyst inference

The Nasdaq has gained about 2% this week, recovering from a rough start to the month as AI sentiment improved. Futures were mixed, with Dow futures down 88 points, S&P 500 futures up 0.1% and Nasdaq 100 futures up 0.41% ahead of results.

Analyst inference

What to watch

1. Microsoft and Alphabet report quarterly results after markets close on Wednesday, and both are expected to report accelerating cloud growth, a signal of demand for AI computing services. Confirmed
2. Investors should watch whether SK Hynix's profit surge carries into guidance from Micron and other chipmakers, since memory prices affect revenue and the cost of building AI systems. Proposed
3. The Federal Reserve's rate decision matters because borrowing costs influence company capital spending and investor positioning, particularly for expensive technology stocks tied to the AI trade. Analyst inference

Evidence

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