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Stock market today: US futures climb as Fed rate-hike fears fade, with Apple on deck

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US Stock Futures News

Fed,Apple,Jerome Powell

Investors are accentuating the positive in Jerome Powell's policy comments and looking ahead to Apple earnings.

US stock futures strode higher Thursday in a calm after the Fed day storm, as investors set aside rate worries for now to focus on Apple earnings and the coming monthly jobs report. S&P 500 futures rose roughly 0.7%, while those on the Dow Jones Industrial Average were 0.4% higher. Contracts on the tech-heavy Nasdaq 100 led the gains, up 0.9%. Stocks are recovering from Wednesday's volatile session dominated by the wait for the Federal Reserve's policy decision.

Read more: What the Fed rate decision means for bank accounts, CDs, loans, and credit cards As Powell again stressed the Fed is still depending on data to shape its thinking, the April jobs report due Friday is in full focus. Wall Street is watching for any signs of cracks in the strong labor market story, a key factor for policymakers. Meanwhile, the OECD credited US outperformance as the reason the global economy is growing faster than expected, providing another reason for optimism.

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