Stock Futures Fall, Inflation Data Expected

Stock futures declined on Thursday following a series of mixed quarterly results that negatively impacted investor sentiment. Micron Technology's shares fell by 5% in premarket trading after the chipmaker's Q4 revenue guidance merely met expectations, failing to excite investors. Meanwhile, Levi Strauss shares plunged by 15% due to disappointing quarterly revenue figures.

These market movements precede the release of important inflation data scheduled for Friday, specifically May's personal consumption expenditures price index. The data is expected to indicate a decrease in pricing pressures. Such an outcome could strengthen the case for the Fed to reduce interest rates later in the year, providing some relief to the markets.

The NASDAQ experienced gains two days in a row, making up for part of its recent losses. The next resistance level is at 20,130. If it surpasses this mark, the next levels to observe are 20,220 and 20,400. On the downside, 19,200 serves as the initial support level, followed by 18,900 and 18,400 if it falls further.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
20,400	20,220	20,130	19,200	18,900	18,400