Last Updated:Stock-index futures gained after the Federal Reserve raised interest rates for what many investors bet would be the last time in the central bank's current campaign against inflation.after the Facebook owner reported its highest quarterly sales growth since 2021.
Investors await another packed day of earnings. Hershey, Southwest Airlines, McDonald’s, Comcast, S&P Global and Mastercard are set to report earnings ahead of the open. Mondelez International, Ford, Intel and Vale will report results after markets close. The European Central Bank meets Thursday and is expected to lift its benchmark interest rate to 3.75%, from 3.5%. This comes after the FedWednesday, with Chair Jerome Powell saying further moves would depend on how the economy fares in coming months.
“Our own view is that Fed rates have peaked,” said Seema Shah, chief global strategist at Principal Asset Management. But with commodity prices rising and the jobs market tight “we can’t entirely rule out the possibility of an inflation resurgence lurking around the corner.”Stock futures gained. S&P 500 futures rose 0.6% while contracts tied to the tech-heavy Nasdaq-100 added 1.1%. Dow industrials futures rose more modestly., while the dollar declined. The yield on the benchmark 10-year Treasury note edged up from Wednesday’s close of 3.85%.. Europe’s Stoxx 600 added 0.9%, led by media and tech companies. In Asia, the Hang Seng jumped 1.4%, while the Nikkei 225 rose 0.7%. The Shanghai composite bucked the trend, edging lower..
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