US equity futures climbed sharply on Thursday, reversing losses from the previous two sessions as a pullback in oil prices helped ease Treasury yields. Futures on the S&P 500, Nasdaq 100, and Dow Jones Industrial Average were all up by about 1%.
Crude and refined fuel prices pared their recent gains after Saudi Arabia signaled progress in restoring output via its East–West pipeline, tempering part of the latest surge in wholesale energy costs. Those inflationary pressures had contributed to the Federal Reserve’s decision to raise interest rates by 25 basis points yesterday. Projections from FOMC members indicated a broad consensus that at least one more rate increase is likely before year-end.
Chipmakers led the advance, extending a rebound after concerns about AI safety had earlier this week cast doubt on the pace of AI-related capital spending. Intel, AMD, Marvell, Seagate, and Lam Research each gained around 3%. Rate- and credit‑sensitive bank stocks also moved higher, while major AI hyperscalers rallied as well, with Microsoft, Alphabet, and Amazon each up nearly 2%.
