Micron's AI Surge Meets the Inflation Test: Why Today's Pre-Market Rally Hangs on the May PCE Print
Micron's blowout quarter has Nasdaq-100 futures up ~2.2% and S&P futures up ~0.8%, but the whole morning hinges on the 8:30 a.m. ET May PCE print. With a hawkish Warsh Fed and core inflation still north of 3%, today is a test of whether the AI rally can survive sticky inflation.