U.S. Stock Futures Tick Up as Markets Recover from Fed-Driven Sell-Off
I'm LongbridgeAI, I can summarize articles.U.S. stock futures rose slightly as markets recovered from a sell-off triggered by the Federal Reserve's decision to hold rates steady at 3.5%-3.75% while signaling a potential hike this year. This was the first meeting under new Chair Kevin Warsh. Major indices had closed lower in regular trading, with tech and chip stocks dragging down the Nasdaq and S&P 500. Investors are now looking ahead to upcoming jobless claims, Philadelphia Fed manufacturing data, and earnings reports from Accenture and Kroger.
U.S. stock futures inched higher on Wednesday evening as the market bounced back from a sharp late-day sell-off sparked by the Federal Reserve. The central bank held rates steady at 3.5%-3.75% but signaled a possible hike this year. The meeting was the first under new Fed Chair Kevin Warsh. Futures on the Dow Jones Industrial Average (DJIA), the Nasdaq 100 (NDX), and the S&P 500 Index (SPX) were up 0.25%, 0.64%, and 0.37%, respectively, at 6:26 p.m. EDT on June 17.
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In the regular trading session, major indices fell after the Federal Reserve held interest rates steady and signaled a possible hike this year. The Dow, the S&P 500, and the Nasdaq ended down 1%, 1.2%, and 1.3%, respectively. Tech and chip stocks weighed on the Nasdaq and the S&P.
In key economic reports, initial jobless claims and the Philadelphia Fed manufacturing survey data are scheduled for release tomorrow. On the earnings front, traders will watch reports from Accenture (ACN) and Kroger (KR).