Fed Inflation Data, Micron Earnings, and Boeing Deal Boost Market Sentiment

Stock futures have stabilized after two days of losses for major indexes. Despite this, investors are still cautious due to rising Treasury yields and fears of persistent inflation.

The Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures (PCE) report, is set to be released at 8:30 a.m. ET today. Analysts expect prices to have risen 3.7% in the 12 months through August, unchanged from the previous month.

Micron Technology's earnings are also due out after the closing bell. The memory chip giant is expected to report another quarter of massive growth, with revenue estimated to jump 350% to $50.95 billion and adjusted earnings rising more than tenfold to $31.63 per share.

Boeing shares have risen on news that it has been selected to build a new generation of fighter planes for the U.S. Navy. The contract is worth north of $20 billion, with the planes expected to be delivered starting in the 2030s.