U.S. market focus turns to data, earnings and bank capital actions after chip-led selloff

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US market focus: data, earnings, banks

Highlights

Micron surged 16% in extended trading after beating earnings estimates, with CEO highlighting prolonged memory supply shortages and gradual industry improvement by 2028.
JPMorgan announced a $50 billion buyback and increased its dividend to $1.65, while Goldman Sachs, Morgan Stanley, and Wells Fargo raised payouts after positive stress test results.
Premarket economic data releases Thursday include initial jobless claims (consensus 223,000), durable goods (-4% expected), GDP (1.7%), and PCE inflation (0.5% monthly, 4.1% annual consensus).

Thursday catalysts across data and companies

As reported by CNBC, traders are preparing for a dense run of premarket economic data and corporate updates that could shape the next session after semiconductor shares pressure broader equity indexes.

Initial jobless claims are due at 8:30 a.m. ET, with a Dow Jones consensus estimate of 223,000. Durable goods data is also scheduled, and economists polled by Dow Jones expect a 4% decline. The third reading of real gross domestic product is due as well, with a Dow Jones consensus call of 1.7%. The May personal consumption expenditures price index is also set for release, with consensus estimates of a 0.5% monthly increase and a 4.1% annual gain.

Darden Restaurants and McCormick are due to report before the bell, while Winnebago is also on the morning schedule. After the bell, BlackBerry reports, and FedEx Freight is also due, although investors already received many details when FedEx reported on Tuesday night.

Micron is in focus after reporting earnings on Wednesday evening, with the stock up 16% in extended trading after beating Wall Street estimates. Chief Executive Sanjay Mehrotra says customers are recognizing that supply shortages in memory and storage will take considerable time to improve, even as industry supply is expected to improve gradually in 2028. Qualcomm is also higher after its investor day, where the company says non-handset revenue will reach $40 billion in 2029, nearly doubling earlier estimates.

Bank payouts and sector watchpoints

Large U.S. banks are also drawing attention after stress test results support higher shareholder payouts. Goldman Sachs is raising its dividend from $4.50 a share to $5, Morgan Stanley is increasing its dividend from $1 to $1.15, Wells Fargo is lifting its payout from 45 cents to 50 cents, and JPMorgan is raising its dividend from $1.50 to $1.65 while also announcing a $50 billion repurchase program.

Beyond bank capital actions, market participants are also tracking activity around options trading and energy themes. CNBC plans live coverage from the Cboe options pit, while attention is also on nuclear developments in the U.S., including a visit to Idaho National Laboratory and a new reactor. Related names such as Vistra, Constellation Energy and the Global X Uranium ETF remain part of the broader sector watchlist as investors assess sentiment across power and infrastructure plays.

Our earlier coverage of large U.S. banks’ post-stress-test capital returns explained that the Federal Reserve’s latest stress test showed all 32 major banks remained above minimum capital requirements, supporting higher dividends and buybacks. We noted moves including JPMorgan’s new $50 billion repurchase program and planned dividend increase, alongside dividend hikes from Goldman Sachs and other lenders, as the Fed keeps stress capital buffers unchanged through 2027.

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