Wall Street on Track for Higher Open on Tech Strength

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April 1 Reuters Major U.S. stock indexes were set to open higher on Thursday, as technology shares, led by chipmakers, gained following an upbeat earnings outlook by Micron, while optimism about the U.S. economic growth lifted sentiment.

Increased vaccinations and massive fiscal stimulus are powering a recovery in the labor market, which helped investors shrug off latest data that showed a rise in the number of Americans filing new claims for jobless benefits last week.

The closelywatched monthly jobs report on Friday could show U.S. economy added 647,000 jobs last month after Februarys 379,000 rise.

The data continues to give confidence that the earnings are going to be revised higher, said Larry Adam, chief investment officer at Raymond James.

April is usually a pretty good month for the market historically and I would expect that momentum to continue especially as we see the economy strengthen.

Micron Technology Inc advanced 5 premarket after the chipmaker forecast fiscal thirdquarter revenue above Wall Street estimates due to higher demand for memory chips, thanks to 5G smartphones and artificial intelligence software.

U.S.listed shares of rival Taiwan Semiconductor rose 2.4 on its plan to invest 100 billion over the next three years to meet the rising chip demand.

Nasdaq 100 futures jumped 1 as high flying stocks including Amazon.com Inc, Apple Inc, Alphabet Inc, Microsoft Corp and Facebook Inc added between 0.8 and 1.2 after underperforming last month on…

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