Nasdaq futures rise as SK Hynix results lift chipmakers before Fed decision
Nasdaq futures gained after SK Hynix's strong quarterly profit lifted memory chipmakers. Investors now await the Fed's rate decision and results from major companies.
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what happened
Futures on the tech-heavy Nasdaq rose on Wednesday, supported by memory-chip stocks after South Korea's SK Hynix reported quarterly profit that jumped more than sevenfold, according to Reuters.
Micron Technology gained 4% in early premarket trading, later reported as 4.2%. SK Hynix's US-listed shares rose 7.8% in one report and 8.5% in an updated one. Storage firms Sandisk and Western Digital also advanced, while Seagate fell after its first-quarter results. Nvidia, AMD and Marvell were modestly higher.
why it matters
The rally in chips supports appetite for technology assets ahead of the Fed's rate decision and earnings from large companies. According to LSEG data, traders still price in at least three 25-basis-point hikes by late 2027, so Thursday's inflation data could shift those expectations noticeably.
market impact
Nasdaq and memory chipmakers: strong SK Hynix results support the sector
- Nasdaq 100 futures pressure up — memory-chip stocks rallied after SK Hynix's strong results
- Micron shares pressure up — SK Hynix's results boost interest in the memory sector
tags
instruments
sources
- Nasdaq futures rise as SK Hynix boosts chips before Fed decision, earnings — Reuters, 28 October 2026 at 09:37 UTC
- Nasdaq futures gain as SK Hynix lifts chips ahead of Fed decision, earnings — Reuters, 28 October 2026 at 11:24 UTC
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