News Formal

Stock market today: S&P 500, Nasdaq futures rally as China stimulus, chip stocks lift mood

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 26 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 63%

US Stock Futures News

Jerome Powell,China,Stock Market

A double dose of optimism for the AI trade and for China's stimulus push is buoying the market ahead of Jerome Powell's comments.

US stock futures jumped on Thursday, setting the stage for fresh record highs as investors welcomed Micron's upbeat earnings and China's pledges of more stimulus while they waited to hear from Jerome Powell. Dow Jones Industrial Average futures rose 0.4%, while S&P 500 futures added 0.8% after both gauges slipped back from all-time highs at the close. Contracts on the tech-heavy Nasdaq 100 led the advance, surging 1.5% amid a sharp spike in Micron's shares.

Meanwhile, China's top leaders signaled they are pulling out the stops to revive its moribund economy with new pledges to lift fiscal spending, halt the property crisis and support the stock market. A big jump in mainland stocks set the CSI 300 on track for its best week in a decade. Helping the upbeat mood were growing expectations for another jumbo interest-rate cut from the Federal Reserve. Traders are pricing in 60% odds of a 0.5% move at its November meeting, versus 40% a week ago.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Dow hits record, S&P 500, Nasdaq rise despite fall in Nvidia sharesThe dust is settling after Nvidia's solid but disappointing earnings, as investors reassessed the prospects for techs.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq slip as sluggish start to September continuesInvestors are looking to labor data to gauge the chances of a 'soft landing' for the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nasdaq, S&P 500 futures slide amid more soft jobs market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq edge higher as inflation report loomsInvestors are gearing up for a consumer inflation print seen as crucial to determining the size of the first US interest-rate cut in years.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq jump for 4th straight day as tech leads stocks higherWholesale inflation and jobless data set the stage for a Fed rate cut next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Dow, S&P 500, Nasdaq futures surge as Fed fires up rallyWall Street has absorbed the Fed's message that a deep cut will prove positive for the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »