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US stock futures today: Why Dow, S&P 500 and Nasdaq futures are rising after Fed hike
US stock futures today rose after the Fed hike, with Dow, S&P 500 and Nasdaq futures gaining as tech stocks rallied, Treasury yields and oil prices fell. | Business News
US stock futures today: Why Dow, S&P 500 and Nasdaq futures are rising after Fed hike
US stock futures today rose after the Fed hike, with Dow, S&P 500 and Nasdaq futures gaining as tech stocks rallied, Treasury yields and oil prices fell.
US stock futures moved higher in premarket trading on Thursday, with technology stocks leading the gains. Dow Jones futures climbed 619 points, or 1.2%. S&P 500 futures gained 1.3%. Nasdaq-100 futures jumped 1.7%. The rise comes a day after Wall Street suffered losses following the Federal Reserve’s first interest-rate hike in three years, according to CNBC.
Tech stocks are driving the market higher
Technology stocks were among the biggest reasons behind Thursday’s rise in futures. Nvidia and Amazon, two members of the “Magnificent Seven,” gained about 2% each in premarket trading. Microsoft rose about 1%.
Other stocks linked to the artificial intelligence trade also climbed. Applied Materials, Qualcomm and Intel each gained about 3%, according to CNBC.
Dow futures are recovering after a big Wednesday fall
The futures rally is also helping Wall Street recover some of Wednesday’s losses. The Dow fell more than 630 points, or 1.2%, on Wednesday, with financial stocks weighing on the index. The S&P 500 dropped 0.5%. The tech-heavy Nasdaq Composite ended slightly lower. The losses came after the Fed raised its benchmark interest rate.