U.S. Stock Market Pre-market Highlights: Micron's Epic Financial Report Ignites the Storage Sector! Qualcomm Fully Expands into AI Data Center Business

• 1. The three major US stock index futures all rose: Nasdaq futures increased by 2.34%, S&P 500 futures rose 0.92%, and Dow Jones futures went up 0.32%.
• 2. All major European stock indices rose collectively: Germany's DAX index increased by 1.01%, UK's FTSE 100 rose by 0.86%, France's CAC index grew by 0.66%, and the Euro Stoxx 50 index was up 0.9%.
• 3. The US May core PCE price index year-on-year recorded 3.4%, in line with market expectations and reaching a new high since October 2023.
• 4. The final value of the US Q1 annualized real GDP growth rate was 2.1%, expected at 1.6%, previous value was 1.6%.
• 5. US initial jobless claims for the week ending June 20 were 215,000, expected 225,000, previous value revised from 226,000 to 227,000.
• 6. Micron delivered an epic financial report: the third quarter gross margin soared to 84.9%. Both revenue (41.46 billion USD) and net profit (28.24 billion USD) hit all-time highs.
• 7. Jensen Huang stated at the Nvidia shareholders’ meeting: Useful AI has already arrived and is able to make money; this round of AI infrastructure cycle will last for decades.
• 8. Qualcomm fully entered the AI data center business, significantly raising its non-mobile business revenue guidance for fiscal year 2029 to 40 billion USD.
• 9. Elon Musk's wealth has dropped below the 1 trillion USD mark, and the proportion of short positions in SpaceX rose to 13%.
• 10. IBM launched the world's first sub-1 nanometer chip technology, with the new chip design offering up to 50% performance improvement.
• 11. Microsoft’s quantum computing research faces further academic challenges; an article in Nature stated that the so-called major breakthrough may lack sufficient evidence.
• 12. Apple reportedly cooperated with Intel to make chips, with analysis suggesting mass production will still require another 2 to 3 years at the earliest.
• 13. All 32 major Wall Street banks passed the Federal Reserve's stress test; JPMorgan, Goldman Sachs, and others announced plans to increase dividends and buybacks.
• 14. Lockheed Martin won a 35 billion USD contract from the US Department of Defense, quadrupling the production of air-defense and anti-missile interceptors.
• 15. Chevron: After Trump pressured large oil companies, natural gas prices will return to normal.

Events to watch during US stock trading hours:

22:00 US May new home sales annualized total