Dow Futures Move Higher as Fed Delivers 0.75% Hike
By Oliver Gray
Investing.com - U.S. stock futures traded higher during Wednesday’s evening deals after major benchmark indices snapped 5-day losing streaks as risk sentiment returned following the Federal Reserve’s largest interest rate hike since 1994.
By 6:35pm ET (10:35pm GMT) Dow Jones Futures and S&P 500 Futures were up 0.4% while Nasdaq 100 Futures added 0.6%.
Economic data out Thursday includes weekly jobless claims numbers, with a print of 220K expected, while housing starts data will also be released. Meantime, Adobe Systems Incorporated (NASDAQ:ADBE) and Kroger Company (NYSE:KR) are set to report quarterly results.
During Wednesday’s regular trade, the Dow Jones Industrial Average snapped a five-day losing streak, lifting 303.70 points or 1%, to close at 30,668.53. The S&P 500 added 1.46% to 3,789.99 and the NASDAQ Composite gained 2.5% to 11,099.15.
On the data front, retail sales unexpectedly fell 0.3% May, posting the first decline this year amid high inflation, gasoline prices and borrowing costs.
On the bond markets, United States 10-Year rates were at 3.291%.
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