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U.S. equity futures rose Thursday, as a jump in Microsoft and semiconductors helped futures rebound from the prior day’s selloff when the Federal Reserve decided to hold rates steady.
Futures for the Dow Jones Industrials soared 233 points, or 0.5%, to 51,998.
Futures for the S&P 500 jumped 45.75 points, or 0.6%, to 7,397.
Futures for the NASDAQ Composite popped 365.50 points, or 1.3%, to 27,707.50
Microsoft jumped 8.3% in premarket trading amid growth from its Azure business.
In contrast, Meta Platforms was down 9% ahead of the market open after issuing a soft revenue forecast and a 91% drop in second-quarter free cash flow.
One of the busiest weeks of corporate earnings continues Thursday with Bristol-Myers Squibb set to report before the bell. Amazon, Apple and Coinbase are on deck for after the close.
On Thursday, traders will be watching for weekly jobless claims and the personal consumption expenditures price index reading for June. The Dow Jones consensus calls for headline inflation to have grown at an annual rate of 3.7%.
Excluding volatile energy and food, they anticipate it will have risen 3.3%. The first reading of the second quarter’s real GDP is also due in the morning.
In Japan, the Nikkei 225 gained 0.7% Thursday, while in Hong Kong, the Hang Seng increased 0.2%.
Oil prices doffed 67 cents to $83.79 U.S. a barrel.
Gold prices advanced $36.20 to $4,072.50 U.S an ounce.
