Micron reports after the US close tonight. Before that, the PCE inflation data at 8:30 a.m. ET will test where bond yields go next.
Wall Street closed slightly lower again on Tuesday. According to Yahoo Finance, the Dow fell 0.2%, the S&P 500 slipped 0.1%, and the Nasdaq finished just below flat. The 30-year Treasury yield rose as high as 5.62%, its highest level since 2002.
The 10-year yield climbed as high as 5.28%, then eased to around 5.23%. According to Investing.com, the pullback came after New York Fed President John Williams said the Fed did not need to rush its next move. The Fed raised rates by 25 basis points earlier in September.
Tonight, the spotlight is on Micron Technology (MU). The memory maker's report is a read on how strong memory demand is for AI data centers.
Tonight's Watchlist
Stock | Movement | What to Watch |
|---|
MU | +1.05% Tuesday, reports after the close | Consensus EPS of $31.24 on about $50 billion in revenue. Watch the next-quarter guidance. |
NVDA | -0.72% Tuesday | Micron's report is a read on AI memory demand. Watch how AI chip stocks react. |
BA | +1.78% Tuesday, +2.25% after hours | Won the Navy's F/A-XX fighter contract, with $20 billion to develop test aircraft. |
NKE | -1.51% Tuesday, reports Thursday | Revenue is expected to fall 3.3% year over year. Results come Thursday after the close. |
Movement: change at Tuesday's close, Sept. 29, per Yahoo Finance; BA after-hours change per Investing.com. What to Watch: Yahoo Finance (MU), Investing.com (BA), StockStory (NKE).
Tonight's Key Events
Micron faces high expectations
Micron (MU) reports fiscal fourth-quarter 2026 results after the US close. According to Yahoo Finance, consensus EPS sits at $31.24, up from $2.86 in the year-ago quarter. Micron is now shipping HBM4 memory in volume and has beaten EPS estimates in each of the last four quarters. MU shares are up 590.1% over 52 weeks, so expectations are very high.
PCE and GDP data at 8:30 a.m. ET
August personal income and outlays data, including the PCE price index, lands alongside the third estimate of second-quarter GDP at 8:30 a.m. ET. PCE is the Fed's preferred inflation gauge. According to Yahoo Finance, headline PCE is expected to 3.7% year over year and core PCE to 3.2%. A hotter-than-expected print could push yields higher again and weigh on tech stocks.
Boeing wins the Navy fighter contract
Boeing (BA) won the US Navy's F/A-XX fighter program, with a $20 billion contract to develop test aircraft, according to Investing.com. According to Boeing, it is the company's second sixth-generation fighter program, after the Air Force's F-47. BA shares rose more than 2% in extended trading on Tuesday.
Pre-Market Pulse 📊
On Tuesday evening US time, S&P 500 futures were up 0.17% and Nasdaq 100 futures were up 0.25%, according to Investing.com. Beyond the watchlist, Carnival (CCL) jumped 13.41% to $25.11 on Tuesday. According to The Motley Fool, adjusted EPS of $1.43 and revenue of $8.44 billion both beat estimates.
Macro Note 📝
The US dollar is heading for its best month since June on Fed rate-hike bets, according to Bloomberg. Oil fell more than 2% on Tuesday as supplies from Saudi Arabia improved, according to Investing.com.
Conclusion
Tonight, the market tests two things: the inflation path through PCE, then the strength of AI chip demand through Micron's report. With MU shares already up sharply, management's guidance may matter as much as this quarter's numbers.
After that, watch Nike (NKE), which reports Thursday after the US close. According to StockStory, NKE shares are down 8.1% over the past month.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
What stocks are you watching tonight?
