U.S. stock index futures climbed Thursday after the Federal Reserve indicated an interest rate cut might be imminent. At 07:20 ET, Dow Jones Futures were up 24 points (0.1%), S&P 500 Futures rose 25 points (0.5%), and Nasdaq 100 Futures jumped 120 points (0.6%).
Fed Signals Rate Cut and Inflation Progress
The Fed kept rates unchanged as expected, but Chair Jerome Powell acknowledged progress in reducing inflation and cooling the labour market, setting the stage for a potential rate cut in September. Markets are heavily pricing in a 25 basis point cut next month.
Tech Rallies with Meta Leading; Apple Awaited
Tech stocks surged, led by Meta Platforms after strong Q2 earnings and a positive outlook. Despite mixed results from Microsoft and weak earnings from Arm Holdings, tech optimism remains high. Investors await earnings from Apple and Amazon and key economic data including nonfarm payrolls and jobless claims.
