US Futures Rise After Fed-Driven Selloff
US stock futures moved higher on Thursday after the major averages declined in the previous session as the Federal Reserve delivered its first interest rate hike in three years. Dow futures gained 0.2%, while S&P 500 and Nasdaq 100 futures advanced 0.3% and 0.5%, respectively. In regular trading on Wednesday, the Dow dropped 1.21%, weighed down by losses among financial services stocks. The S&P 500 and Nasdaq Composite also fell 0.45% and 0.01%, respectively, giving up gains made earlier in the session. As widely expected, the Fed raised its benchmark interest rate by 25 basis points to 3.75%-4% while signaling another rate increase later this year. The central bank is seeking to curb inflationary pressures as oil prices climbed above $100 per barrel. In corporate news, Generac jumped 33% in extended trading after Amazon received warrants to purchase up to $340 million worth of its shares under an agreement for Generac to supply backup power generators to Amazon’s data centers.
US stock futures moved higher on Thursday after the major averages declined in the previous session as the Federal Reserve delivered its first interest rate hike in three years. 5%, respectively. 21%, weighed down by losses among financial services stocks. 01%, respectively, giving up gains made earlier in the session.
75%-4% while signaling another rate increase later this year. The central bank is seeking to curb inflationary pressures as oil prices climbed above $100 per barrel. In corporate news, Generac jumped 33% in extended trading after Amazon received warrants to purchase up to $340 million worth of its shares under an agreement for Generac to supply backup power generators to Amazon’s data centers.