Micron Technology's AI-driven earnings boosted U.S. stock futures, with the Nasdaq up 2.2% as tech exuberance resurged. Investors are betting on sustained demand for AI chips, propelling market sentiment. Meanwhile, Brent crude fell 1.1% to $73.10 a barrel, nearing prewar levels, as Gulf oil exports rebounded to 63% of normal capacity.

Analysts note reduced geopolitical risk after tanker traffic through the Strait of Hormuz increased, easing supply fears. U.S. Treasury yields rose ahead of inflation data, signaling potential Federal Reserve rate hikes, while the dollar’s strength pushed gold below $4,000 an ounce.