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Published: 25 June 2026,06:48
Daily Market Analysis New
*Wall Street futures moved higher after Micron delivered stronger-than-expected earnings, fueled by booming demand for AI-related memory chips.
*The strong performance from Micron reinforces the resilience of the AI investment theme, helping offset recent market concerns surrounding geopolitical tensions and macroeconomic uncertainty.
*Despite the positive momentum, investors remain focused on the upcoming U.S. PCE inflation report.
Wall Street futures turned higher during the Asian session following strong quarterly results from Micron Technology. The semiconductor giant reported earnings that significantly exceeded market expectations, driven by robust demand for high-bandwidth memory (HBM) chips used in artificial intelligence applications. Micron’s shares surged in after-hours trading, providing a much-needed lift to sentiment across the technology sector and broader indices.
The positive reaction propelled U.S. index futures upward, with Nasdaq futures leading gains. This development offers a potential rebound from the recent gloomy market sentiment shaped by geopolitical uncertainties and earlier macroeconomic pressures. Investors appear encouraged by signs of resilience in the AI supply chain, which could support broader tech-heavy indices like the Nasdaq Composite in today’s trading session.
However, near-term challenges remain. The U.S. Personal Consumption Expenditures (PCE) Price Index — the Federal Reserve’s preferred inflation gauge — is scheduled for release later this week. A hotter-than-expected reading, particularly amid lingering energy cost pressures, could reinforce hawkish expectations for the Fed and cool the emerging positive momentum. Such an outcome may weigh on growth-sensitive stocks and pressure major indices once more.
The near-term outlook for the Nasdaq and Wall Street is cautiously optimistic but highly data-dependent. Micron’s beat provides a constructive narrative for the semiconductor and AI themes, potentially supporting a short-term recovery. Yet, the PCE release and ongoing geopolitical headlines will likely dictate the sustainability of any rebound. Traders should monitor inflation data closely, with key support levels for the Nasdaq futures around recent lows and resistance near recent highs.
Technical Analysis
Nasdaq Composite was previously capped beneath a key liquidity zone, which triggered a notable sell-off and reinforced the short-term bearish outlook for the index. The rejection from this resistance area highlighted persistent selling pressure and suggested that buyers were struggling to sustain the previous upward momentum.
However, the latest price action has introduced a more constructive signal. Nasdaq has formed a bullish engulfing candlestick pattern, a widely followed reversal formation that often indicates a shift in market sentiment from bearish to bullish. The appearance of this pattern suggests that buyers have stepped back into the market and may be attempting to establish a near-term bottom.
While the bullish engulfing pattern provides an early indication of a potential trend reversal, further confirmation is still required before a sustained recovery can be expected. The key level to monitor is the psychological 30,000 mark. A decisive move above this level would validate the bullish reversal signal, confirm renewed buying momentum, and strengthen the case for a continuation of the recovery.
Conversely, failure to build on the bullish engulfing pattern would leave the index vulnerable to renewed downside pressure. In particular, continued trading below the 29,365 level would suggest that sellers remain in control and that the recent rebound attempt lacks conviction.
Resistance Levels: 30,000.00, 30840.40
Support Levels: 29,364.80, 28,695.50
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