How are stock-index futures trading:
Dow Jones Industrial Average futures increased 124 points, or 0.29%, to 42,905
S&P 500 futures increased 16 points, or 0.27%, to 5,956
Nasdaq 100 futures increased 37.25 points, or 0.16%, to 21,536
On Wednesday, the Dow Jones Industrial Average fell 1,123 points, or 2.58%, to 42,327, the S&P 500 declined 178 points, or 2.95%, to 5,872, and the Nasdaq Composite dropped 716 points, or 3.56%, to 19,393.
Stock futures increased on Thursday following sharp drops on Wednesday in response to the U.S. Federal Reserve’s outlook for 2025. The central bank cut interest rates by 25 basis points, as expected, at its December meeting but signaled it is set to take a more “cautious” approach to rate cuts in 2025.
At the press conference, Federal Reserve Chair Jerome Powell said the central bank was now at “a point at which it would be appropriate to slow the pace of rate cuts.”
The Federal Reserve’s hawkish outlook triggered sharp drops in America’s major stock market indices that saw the S&P 500 index record its largest decline in the immediate wake of a rate cut decision since 2001.
The Bank of England will now announce their own rate cut decision at 7 a.m. Eastern today, with economists expecting Britain’s central bank will leave interest rates unchanged at 4.75%. The dollar rallied against the Japanese yen after the Bank of Japan left rates unchanged.
Investors will also be watching out for the U.S. Department of Labor’s weekly initial jobless claims figures. Micron Technology fell in premarket trade on the chipmaker’s soft outlook.
