Nasdaq futures rise as SK Hynix boosts chips before Fed decision, earnings

Oct 28 (Reuters) Futures tied to the tech-heavy Nasdaq rose on Wednesday, buoyed by memory-chip stocks after SK Hynix s bumper results, with investors now looking to a slate of key earnings as the next test of AI trade, alongside the Federal Reserve s rate ​decision. Memory chipmaker Micron Technology gained 4% in premarket trading after South Korean rival SK ‌Hynix reported a more than sevenfold jump in quarterly profit. SK Hynix s US-listed shares jumped 7.8%. Data storage firms Sandisk and Western Digital rose 0.8% and 4.5%, respectively, while Seagate Technology was an outlier, down 3.7%, after reporting its first-quarter results. The broader semiconductor segment was also trading higher, with Nvidia up 0.8%, AMD climbing 1.5% and Marvell Technology adding ‌1.7%. Alphabet advanced ​1.2% following a media report that OpenAI plans to buy ⁠Google s AI chips. At 04:53 a.m. ET, ⁠Dow E-minis were down 88 points, or 0.17%, S P 500 E-minis were up 7.25 points, or 0.1%, and Nasdaq 100 E-m