U.S. stock futures rose Thursday, boosted by strong earnings from Meta Platforms as well as hopes the Federal Reserve’s latest interest rate increase will be its last.
By 06:35 ET (10:35 GMT), the Dow Futures contract was up 35 points, or 0.1%, S&P 500 Futures traded 30 points, or 0.6%, higher and Nasdaq 100 Futures climbed 195 points, or 1.3%.
The benchmark Wall Street indices wobbled on Wednesday after the Federal Reserve lived up to expectations by hiking interest rates by another quarter of a percentage point, bringing rates to the highest level in more than 22 years.
The blue chip Dow Jones Industrial Average gained just over 80 points, or 0.2%, for its thirteenth straight winning session, its longest such streak since 1987. On the flip side, the broad-based S&P 500 closed just lower and the tech-heavy Nasdaq Composite fell 0.1%.
Crude rises on tight supply expectations
Oil prices rose Thursday, rebounding from the previous session’s losses as traders focused on expectations of tighter supplies from major oil producers, even after the Federal Reserve tightened monetary policy once more.
Saudi Arabia and Russia both recently announced plans to cut production further in August, in an attempt to boost prices by tightening global supply.
Oil prices fell on Wednesday after data showed U.S. crude inventories fell less than expected and the Federal Reserve raised interest rates again.
By 06:35 ET, U.S. crude futures traded 0.8% higher at $79.44 a barrel, while the Brent contract climbed 0.6% to $83.06.
Additionally, gold futures rose 0.3% to $1,976.20/oz, while EUR/USD traded 0.5% higher at 1.1141.
