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Stock futures gained slightly after a huge market rally following Donald Trump’s decisive victory in the presidential election. Traders are also awaiting the Federal Reserve interest rate decision Thursday afternoon.
Futures for the Dow Jones Industrials hiked 104 points, or 0.2%, to 43,651.
Futures for the S&P 500 collected 15.25 points, or 0.3%, to 5,973.50.
Futures for the NASDAQ Composite Index surged 70.25 points, or 0.3%, to 20,964.25.
Trump’s triumph in the race for the White House spurred a surge in stocks that sent the blue-chip Dow soaring by more than 1,500 points. The Dow, S&P 500 and NASDAQ all notched new all-time highs in the session, while the small cap-focused Russell 2000 jumped more than 5%.
Bitcoin, the U.S. dollar and bank stocks all jumped as part of Wednesday’s post-election advance. On the other hand, several international funds and solar stocks struggled as investors expected the President-elect’s policies to hurt these names.
Market participants on Thursday will closely monitor the Federal Reserve’s interest rate decision and Chair Jerome Powell’s subsequent press conference. Fed funds futures are currently pricing in a 100% likelihood that the central bank lowers the borrowing cost at this gathering.
Quarterly earnings are on deck for Moderna and Warner Bros. Discovery before the bell Thursday. Results for Block, Pinterest and Rivian are due in the afternoon.
In Japan, the Nikkei 225 declined 0.3% Thursday, while in Hong Kong, the Hang Seng gained 2%.
Oil prices dipped 70 cents to $70.99 U.S. a barrel.
Gold prices fell $3.50 to $2,672.80.