US equity futures traded in different directions on Thursday as markets prepared for the opening session of the fourth quarter, with Micron’s (NASDAQ:MU) revenue outlook, upcoming Nike (NYSE:NKE) results and US economic data among the main areas of focus.
At 03:34 ET (07:34 GMT), futures linked to the Dow Jones Industrial Average were down 219 points, or 0.4%. S&P 500 futures edged 4 points, or 0.1%, higher, while Nasdaq 100 futures gained 161 points, or 0.5%.
Wall Street’s major indices also ended the previous session mixed. The S&P 500 and Dow declined, while the Nasdaq Composite closed higher.
Treasury yields rose despite August US personal consumption expenditures inflation coming in below market expectations. Investors are now awaiting September employment figures for further indications about the Federal Reserve’s interest-rate outlook.
For September, the S&P 500 lost 0.45% and the Dow declined 4.29%, while the Nasdaq advanced 1.86%. The S&P 500 and Nasdaq both recorded their second consecutive quarterly gains, while the Dow finished the July-to-September quarter lower.
Micron Forecast Exceeds Market Expectations
Micron shares gained in extended trading after the semiconductor company issued a quarterly revenue forecast above market expectations.
The company also reported an increase in customer commitments under long-term supply agreements, which reached $32 billion compared with $22 billion in June.
Investment in artificial intelligence infrastructure has increased demand for memory chips used in data centres. Micron’s customers include Nvidia.
According to the supplied figures, Micron shares have more than tripled since the beginning of 2026.
Nike Prepares to Release Latest Results
Nike shares edged lower in after-hours trading ahead of its latest financial results.
The announcement is expected to provide further information on the strategy being pursued under chief executive Elliott Hill, including the company’s focus on sports such as football and running, its relationships with wholesale partners and the introduction of new products.
Nike has experienced weaker sales and increased competitive pressures. Its shares have declined by more than 44% since the beginning of the year, according to the supplied figures.
During September, S&P Dow Jones removed Nike from the S&P 100 as part of its quarterly index rebalancing, ending an 18-year period in the index.
ISM Manufacturing Report Due
The September US manufacturing purchasing managers’ index from the Institute for Supply Management is also due.
The headline index is forecast to increase to 54.8 from 54.6 in August. Readings above 50 indicate expansion in manufacturing activity.
The prices-paid component is expected to rise to 72.9 from 71.1, indicating continued price pressures across the manufacturing sector.
Tencent Reportedly Agrees $7 Billion Oracle AI Chip Lease
The Financial Times separately reported that Tencent (NYSE:TME) had signed a five-year, $7 billion lease agreement with Oracle (NYSE:ORCL) for access to approximately 100,000 advanced artificial intelligence chips.
The newspaper, citing two people with knowledge of the matter, said the agreement covers several Oracle data centres in Southeast Asia and includes an upfront payment of approximately 30%.
The Financial Times reported that the transaction represents Tencent’s largest overseas lease agreement and provides the company with access to advanced chips unavailable in China.
Oracle shares traded higher after hours following the report.
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