Wall St set for subdued open after economic data; Micron drags chip stocks lower

June 27 - U.S. main stock indexes were set to open muted on Thursday as a slump in Micron after a lackluster forecast weighed on some semiconductor stocks, while investors parsed a string of economic data ahead of this week's crucial inflation report.

The data comes ahead of Friday's release of the monthly personal consumption expenditures price index - the Federal Reserve's preferred inflation gauge. Other semiconductor stocks including AI-trade favorite Nvidia , opens new tab fell 1.2%, while Arm Holdings , Qualcomm , opens new tab and Advanced Micro Devices , opens new tab also edged lower.

"It's going to be a bit difficult for the tech sector to drive on the market the way that it's done as we're entering a more consolidative, choppy phase." Further, President Joe Biden and former President Donald Trump are set to face each other in the first debate during the day, ahead of their rematch this November.

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