Wall St Futures Rise as Fed Rate Hike Lifts Long-Standing Overhang
- On Thursday, U.S. stock index futures surged following the Federal Reserve's interest rate hike on Wednesday, removing a source of market anxiety while aiming to control persistent price pressures.
- The Federal Reserve's dot plot chart projects one more hike this year but stopped short of signaling any moves next year, with officials indicating additional increases may be needed in coming months.
- Alphabet and Meta shares rose more than 1% each before the bell, while CoreWeave, Nebius, and IREN gained 6%, 9%, and 5% respectively; Fluence Energy tumbled 18% after lowering revenue forecasts.
- Investor attention now shifts to the Bank of England's interest rate decision, where rates are expected to stay at 3.75 per cent despite markets pricing an 80 per cent chance of a November hike.
- Northlight Asset Management's Chris Zaccarelli noted inflation has exceeded targets for over five years, while JPMorgan Asset Management's Tai Hui warned investors may need to reassess valuations if the Fed remains hawkish into 2027.
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The industrial average Dow Jones advanced 224 points, or 0.4%. The S&P 500 rose by 0.9%, and the Nasdaq Composite was 1.5%, according to CNBC data.
Market Indexes Bounce Back From the Fed's Rate Hike
Key PointsThe Nasdaq Composite rose 1.4%, the S&P 500 0.9%, and the Dow 0.4% by late Thursday morning.Intel jumped 8.6% after its CEO said capacity and memory shortages limit it to half of CPU demand.The dot plot shows 10 of 18 officials expecting no rate cuts at all through 2029.10 stocks we like better than Dow Jones Industrial Average › Wednesday's rate hike knocked more than 630 points off the Dow. Thursday morning, Wall Street decided it ha…
One reason for the better mood is the falling oil prices. After the Fed's interest rate decision, investors can turn to other issues again.
Wall St futures rise as Fed rate hike lifts long-standing ...
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