Nasdaq 100 futures rise, propelled by Meta shares
S&P 500 futures advanced Wednesday night as investors looked beyond the latest interest rate hike and commentary from the Federal Reserve.
Futures tied to the broad index added 0.4%. Nasdaq 100 futures gained 1%, helped by Meta shares. Futures connected to the Dow Jones Industrial Average ticked down 19 points, or 0.1%.
Meta surged more than 19% in extended trading after reporting a fourth-quarter beat on revenue and announcing a $40 billion stock buyback. That helped investors look past losses in the business unit overseeing the metaverse.
The moves follow a positive day for the three major indexes. The S&P 500 reversed losses to end the regular session with a jump of 1.05%, while the Nasdaq Composite closed 2% higher. Meanwhile, the Dow eked out a narrow 0.02% gain after dropping more than 500 points earlier in the day.
Investors closely watched the Fed meeting Wednesday, where a 0.25 percentage point interest rate hike was announced. That marked a pull back from the 0.5 percentage point increase at December’s meeting, bolstering investor optimism that inflation is cooling enough for the central bank to take notice. But the bank gave no indication of an upcoming pause in rate hikes.
“Traders think the Fed is behind the curve and that inflation threat is receding rapidly,” said Jamie Dutta, market analyst at Vantage. “The Fed is open to changing its mind and may have to if the economy loses momentum.”
Investors will watch Thursday for earnings reports from household names including Apple, Alphabet, Amazon, Ford Motor and Starbucks. They will also look for data on jobless claims, productivity, labor costs and factory orders.
Best Crypto to Buy Now 27 March – LTC, CFX, MASK
Hungarian parliament approves Finland’s NATO bid
3 Found Dead in Westchester County Overdose Identified
Grand jury reconvenes in criminal investigation of former President Trump
Toyota Gives Man New Highlander After Million-Mile Model Lost In Hurricane
Remittances’ Shift To Digital: Driving Change In An Industry Split Between Yesterday And Tomorrow
What a Lifting Belt Can—and Can’t—Do for Your Workout
Used Car Prices Down 8.7 Percent From Last Year, According To Study
Volkswagen Assets Frozen In Russia Over Contract Dispute
Mediterranean Tofu Scramble Recipe | SELF
‘The Bachelor’ Season 27 Finale and After the Final Rose Date, Time, and How to Watch
Is Kimberly-Clark Stock A Better Pick Over Its Industry Peer?
Free webinar: The Digital Revolution in the Global South
One oddsmaker is setting low expectations for the 2023 Patriots
Ashton Kutcher Discusses ‘Dude, Where’s My Car?’ Kiss With Seann William Scott: ‘Like Kissing Sandpaper’
News21 hours ago
How Wrestling Explains America
Finance8 hours ago
Venezuela’s Anti-Corruption Investigation Rocks Cryptocurrency Industry: Exchanges and Mining Farms Shut Down
News22 hours ago
Nick Fuentes Whines Anti-Censorship Platform Is Censoring Him
Tech23 hours ago
Fear the Walking Dead Season 8 Trailer: Morgan Mentions Rick
Finance6 hours ago
Could TikTok Get Banned Before It Goes Public? Congress Hearing Throws Doubt On Company’s Future, Keeping Tech Investors On Their Toes
Investing8 hours ago
Morgan Stanley believes this mega-cap tech stock has 50% upside
Auto12 hours ago
Kia Soul Goes Airborne After Smashing Into Runway Wheel In Wild Crash
Finance23 hours ago
Essentials For The Solo Ager