Futures higher after Fed decision, Apple earnings ahead - what's moving markets
Investing.com -- U.S. futures point into the green, as markets examined statements from Federal Reserve Chair Jerome Powell following the central bank's decision to keep interest rates steady for a second straight meeting. Apple (NASDAQ:AAPL) gears up to unveil its latest three-month earnings, with analysts also eager for any guidance from the tech giant on trading during its crucial December quarter. Shell (LON:SHEL) bumps up its share buybacks, boosting shares in the oil group.
1. Futures inch higher after Fed verdict
U.S. stock futures were trading higher on Thursday, with investors digesting the Federal Reserve's decision to leave interest rates unchanged.
By 05:55 ET (09:55 GMT), the Dow futures contract had gained 102 points or 0.3%, S&P 500 futures had added 22 points or 0.5%, and Nasdaq 100 futures had risen by 107 points or 0.7%.
The U.S. central bank's Federal Open Market Committee on Wednesday voted to keep the all-important federal funds rate steady at a target range of 5.25% to 5.50%, although Chair Jerome Powell flagged that the process of bringing inflation back down to policymakers' 2% objective «has a long way to go.»
After the announcement, the benchmark S&P 500 climbed by 1.1%, while the 30-stock Dow Jones Industrial Average and tech-heavy Nasdaq Composite moved up by 0.7% and 1.6%, respectively. European and Asian equities both followed Wall Street into the green, in a possible sign that global investors are becoming more confident that the Fed has finished tightening policy this year.
Elsewhere, the dollar fell against a basket of its peers, while the price of Bitcoin — the world's largest cryptocurrency by market capital — hit its highest mark since May 2022.
2. Powell vows to proceed «carefully»
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