Nasdaq-100 futures neared record highs as semiconductor outlooks lifted.

June Nasdaq-100 futures recorded an eighth consecutive advance, rallying over 14% since late March to sit just fractions of a percent below all-time highs. Strong earnings and raised guidance from ASML provided a meaningful boost to the broader semiconductor complex, with the market now looking ahead to Taiwan Semiconductor's report to gauge AI infrastructure spending. Additionally, cooler-than-expected March PPI data helped pull 10-Year yields back toward 4.2%, steepening the 2s10s curve to 50 bps. This retracement in long-end yields continues to provide a supportive environment for duration-sensitive growth equities.