US equity futures rebounded on Thursday, erasing the prior session’s losses as chipmakers extended their rally and investors reassessed the likelihood of a Federal Reserve rate cut. S&P 500 futures rose 1%, Nasdaq 100 contracts gained 2%, and Dow Jones Industrial Average futures advanced 0.7%.
The Federal Reserve left its policy rate unchanged, with half of Federal Open Market Committee members indicating that at least one rate increase would be appropriate this year. New Fed Chair Kevin Warsh also moved ahead with plans to overhaul the central bank’s operating framework, unveiling a series of task forces to support the revamp.
In Washington, President Trump signed a memorandum of understanding with Iran aimed at easing energy-related inflation risks.
In corporate news, Intel shares jumped more than 8% in premarket trading after the US President said the company had reached a deal with Apple. Micron gained ahead of its earnings report next week, while Nvidia advanced 1%, recouping part of Wednesday’s decline.
