Broadcom Inc. shares rise 1.56% premarket after cancelling plans to build a $1 billion microchip facility.

Broadcom Inc. rose 1.56% in premarket trading, with the company canceling plans to build a $1 billion microchip facility. This decision may have been influenced by the broader market sentiment, as investor optimism surged in July, driven by a significant jump in profit optimism and a record surge in risk appetite, according to Bank of America's global fund manager survey. Additionally, the market is anticipating a positive open ahead of the June consumer-price index report, which could provide further clues on the path of U.S. interest rates.