Nasdaq, S&P 500, Dow Futures Mixed Even As Micron Fuels AI Rally: ORCL, NKE, TSLA, RKLB, ASTS, PSKY In Focus

• Micron is putting the AI trade back in the spotlight. The memory-chip maker reported a blowout quarter and expects memory supply-demand conditions to remain tight into fiscal 2027 and 2028.
• The U.S. 10-year Treasury yield finished the third quarter at its highest level since 2007 after its biggest quarterly rise in decades, even as softer inflation reduced the odds of an October Fed hike. 
• Investors are also looking ahead to September manufacturing data and Friday’s jobs report as the fourth quarter gets underway.

U.S. stock futures were mixed early Thursday, with AI and semiconductor shares in focus after Micron Technology delivered a blowout quarter, while investors grappled with elevated Treasury yields, geopolitical risks, and a crucial U.S. jobs report just one day away. Separately, U.S. President Donald Trump, in a social post on Wednesday, unveiled plans for South ​Korea to invest about $200 billion in U.S. projects, including eight nuclear plants.

As of 4:00 a.m. ET, Nasdaq futures rose 0.6%, S&P 500 futures were flat, while Dow and Russell 2000 futures dipped 0.4%.

On Stocktwits, retail sentiment for the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, remained ‘extremely bullish,’ and Invesco QQQ Trust (QQQ), which tracks the Nasdaq-100 Index, stayed ‘bullish.’

S&P 500 Hid A Brutal September – What Does October Hold?

The S&P 500 looked relatively steady in September amid a tough macro backdrop, but nearly four out of five stocks in the index fell. AI-linked winners such as Intel, AMD, and Meta helped mask the damage. However, our data analysis shows that retail attention moved in the opposite direction, with Stocktwits message volume rising a median 72.5% on stocks that fell more than 10%. This suggests the sharpest declines also attracted more attention on the platform.

With the S&P 500 and Nasdaq finishing the third quarter higher, Stocktwits sentiment for the ETFs tracking the two indexes (SPY and QQQ) remained extremely bullish heading into October. A Stocktwits poll with more than 19,000 responses found that 40% of respondents planned to buy more in Q4, while another 35% planned to stay the course. The remainder said they were taking profits or rotating toward safer assets. 

As markets head into October, the AI theme remains a big catalyst, but the 10-year Treasury yield has climbed to around 5.3%, its highest level in more than two decades. Meanwhile, softer August inflation data has shifted market bets for the next Fed rate hike to December, even as Minneapolis Fed President Neel Kashkari flagged a higher neutral rate and sticky long-term yields on Wednesday. 

Later in the day, markets will turn their attention to the September ISM Manufacturing PMI report. 

The AI Trade Is Back

Micron Technology (MU) shares rose marginally in early premarket after posting record fiscal Q4 results and robust FY27 guidance. The chipmaker added that memory supply constraint conditions will remain tight through 2028 due to surging AI demand.

Oracle (ORCL): Shares rose over 2% in early premarket following reports that China’s Tencent leased 100,000 chips from Oracle’s Southeast Asia data centers to boost its AI infrastructure.

Alphabet (GOOGL): Shares rose over 2% in early premarket trade after CEO Sundar Pichai previewed the new “Gemini 4 Argon” AI model, designed for advanced internal software, cyber, and quantum workflows.

Meta Platforms (META): Sensor Tower reported that Meta’s new Muse AI agent surpassed 5 million downloads in under three weeks, outpacing early adoption rates of competing AI assistants.

Synopsys (SNPS): Shares rose over 2% in early premarket after the company outlined strong long-term targets, projecting nearly 15% CAGR through FY30 fueled by custom silicon demand and its AI chip-design collaboration with OpenAI.

Constellation Energy (CEG): Shares rose over 3% in early premarket after announcing a 20-year power purchase agreement with Amazon (AMZN) to supply 190 megawatts of nuclear capacity from Calvert Cliffs for AI data center needs.

Trending Stocks

Nike (NKE): Shares were under mild pressure in early premarket trade ahead of its Q1 fiscal earnings report scheduled after the market close. The stock has fallen roughly 80% from its November 2021 peak, but retail sentiment on Stocktwits remains bullish.

Tesla (TSLA) on retail radar ahead of its delivery updates. Meanwhile, Cathie Wood has publicly praised CEO Elon Musk’s diplomacy across U.S. and Chinese leadership.

Rocket Lab (RKLB): Shares rose over 3% in early premarket trade after securing a 20-launch commercial deal with Synspective for its Electron launch vehicle, its largest commercial contract to date.

AST SpaceMobile (ASTS): Shares rose 2% in early premarket trade as three BlueBird satellites head toward Cape Canaveral, and the company continues to push its direct-to-device satellite network.

SpaceX (SPCX): Analysts debate valuation targets after Jim Chanos flagged what he described as a major reduction in the implied 2027 Starship launch outlook, while others point to potential upside from AI-compute contracts. 

In other news, Elon Musk will co-lead “Project Meridian,” a 120-day Pentagon study on future autonomous warfare capabilities.

Defense Contractors (LHX, RTX) and Drone Stocks (ONDS, AVAV, KTOS, UMAC, RCAT) are in the spotlight as the U.S. Department of War announced the creation of the new Autonomous Warfare Command (“AutoWarCom”).

Paramount Skydance (PSKY) & Warner Bros. Discovery (WBD) are in focus after pricing a $45 billion debt package and obtaining court approval to finalize their combined merger expected to close on Oct. 6, 2026.

Robinhood (HOOD): Goldman Sachs has a Buy rating with a $145 price target. The firm cited strong product velocity and platform expansion into perpetual futures.

Toast (TOST) & DoorDash (DASH): Jefferies noted DoorDash’s new DashOS platform introduces competition in restaurant marketing, but Toast retains its core point-of-sale lead.

Pharma Pulse 

Eli Lilly (LLY) remains in the spotlight after Phase 3 ACHIEVE-4 trial data showed its oral GLP-1 candidate, Foundayo (orforglipron), demonstrated non-inferior cardiovascular safety alongside significant A1C and weight reduction versus insulin glargine.

Corvus Pharmaceuticals (CRVS): In focus after announcing the initiation of a Phase 1b clinical trial evaluating Soquelitinib for patients with Hidradenitis Suppurativa.

Intellia Therapeutics (NTLA): Drawing investor attention following institutional disclosures showing Cathie Wood’s ARK Investment bought 467,000 shares on Wednesday.

Other tickers trending on Stocktwits at the time of writing included Sellas Life Sciences (SLS), Enphase Energy (ENPH) and Boeing (BA). 

What Else To Watch Thursday

On the earnings front, beyond Nike, watch out for Accenture Plc (ACN) and McCormick & Co. (MKC). 

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