US stock futures rose on Thursday following a pressured session for the major averages, after the Federal Reserve signaled the possibility of an interest rate hike later this year. In Wednesday’s regular trading, the S&P 500 and Nasdaq Composite declined 1.21% and 1.34%, respectively, logging a second straight day of losses for both indexes. The Dow Jones Industrial Average also slipped 0.97%, snapping a four-session winning streak.
The Fed’s June Summary of Economic Projections indicated that half of FOMC participants anticipate at least one rate increase this year, as core inflation metrics continued to underscore persistent price pressures and labor market data remained solid despite economic disruptions tied to the conflict in Iran.
Separately, the United States and Iran digitally signed an interim peace agreement, though it remains unclear whether Iran has begun implementing measures to fully reopen the Strait of Hormuz.
