MU - Futures Rise Ahead of Q2 End

Stock futures ticked higher on Wednesday as the market approaches the end of the second quarter and the first half of 2023 with solid gains.

Futures for the Dow Jones Industrials hiked 89 points, or 0.3%, to 34,190.

Futures for the S&P 500 added 11.75 points, or 0.3%, to 4,429.25.

Futures for the NASDAQ Composite jumped 47.75 points, or 0.3%, to 15,177.75.

Micron Technology shares ticked up 3% after the chipmaker posted revenue that came in higher than expected for its latest quarter, citing higher industry demand. JPMorgan Chase and Bank of America both gained 1% in pre-market trading as the country's biggest lenders passed the Federal Reserve's annual stress test.

The stock market is nearing the end of the first half of 2023 with strong performance. The S&P 500 is up 14% this year. Meanwhile, the tech-heavy NASDAQ Composite has climbed nearly 30% — heading toward its best first half since 1983 — as rising optimism around artificial intelligence pushed up a slew of tech names and chipmakers. The blue-chip Dow is the relative underperformer, up just 2% this year. Many on Wall Street are expecting a volatile second half.

Just two trading days remain for the month, quarter and first half of the year. For June, the S&P 500 is up 4.7%, on pace for its best monthly performance since January. In the second quarter, the equity benchmark has gained 6.5%, on track for its third positive quarter in a row. Driven by technology and artificial intelligence gains, the NASDAQ is up nearly 30% and headed for its best first half since 1983.

In Japan, the Nikkei 225 took on 0.1% Wednesday, while markets in Hong Kong lost 1.2%

Oil prices rose 22 cents to $69.78 U.S. a barrel.

Gold prices slid $4.40 to $1,917.80. U.S. an ounce.