U.S. stock futures moved higher during Wednesday evening’s trading session as key benchmark indexes ended five-day losing streaks and risk appetite returned after the Federal Reserve’s highest interest rate increase since 1994.
Dow Jones Futures and S&P 500 Futures were up 0.4% at 10:35pm ET (16:35 GMT), while Nasdaq 100 Futures were up 0.6%.
On Thursday, economic data will include weekly unemployment claims, with an estimated print of 220K, as well as housing starts data. In the meanwhile, Adobe Systems, Inc. (NASDAQ:ADBE) and Kroger Company (NYSE:KR) are scheduled to release their quarterly results.
The Dow Jones Industrial Average stopped a five-day losing trend on Wednesday, gaining 303.70 points, or 1 percent, to settle at 30,668.53. The S&P 500 increased by 1.46 percent to 3,789.99, while the NASDAQ Composite increased by 2.5 percent to 11,091.15
In spite of rising inflation, fuel prices, and borrowing rates, retail sales unexpectedly declined 0.3% in May, marking the first decrease of the year.
On the bond markets, 10-Year United States interest rates were at 3.291%.