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US Futures Climb After Fed Takes a Hawkish Turn on Inflation
Dow futures rose 406 points as investors looked past the Fed’s 25-basis-point hike and a Wednesday selloff.
- On Thursday, U.S. stock futures climbed as investors recovered from Wednesday's session, when the Federal Reserve raised interest rates for the first time in three years.
- Policymakers, led by Fed Chairman Kevin Warsh, lifted the overnight federal funds rate by a quarter percentage point Wednesday, establishing a 3.75%-4.00% target range to address stubbornly high inflation.
- The Dow Jones Industrial Average futures rose 0.78% and Nasdaq-100 futures climbed 1.09% Thursday, bouncing back after the blue-chip Dow shed more than 630 points on Wednesday.
- Falling oil prices, with Brent crude trading 2.2% lower at $103.48 a barrel Thursday, are contributing to the equity rebound as markets digest the central bank's decision.
- Investors are now awaiting Thursday's economic data, including weekly jobless claims, while TruStage chief economist Steve Rick cautioned that further rate increases could pressure businesses already facing elevated borrowing costs.
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16 Articles
16 Articles
US futures climb after Fed takes a hawkish turn on inflation
U.S. futures are climbing as Wall Street looks to rebound after closing lower following the Federal Reserve’s first interest rate hike in three years. Futures for the S&P 500 rose 0.8% on Thursday, while those for the Dow Jones Industrial…
·Billings, United States
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Coverage Details
Total News Sources16
Leaning Left5Leaning Right2Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 39%
C 46%
15%
Factuality
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