U.S. stock futures rose after a sharp decline on Monday as investors looked ahead to a week of big events, including the latest Federal Reserve policy decisions and Apple (AAPL) earnings. did.
After officially entering correction territory on Friday, S&P 500 futures (^GSPC) rose about 0.6%. Dow Jones Industrial Average (^DJI) futures rose nearly 0.6%, down more than 350 points at last close.
The tech-heavy Nasdaq 100 (^NDX) contract rose nearly 0.7% after a weak week with mixed results from big tech companies.
All eyes are now on the US central bank and S&P 500 index leader Apple to lift spirits after months of tough stock market conditions.
The rise in the Fed’s preferred inflation measure is raising expectations that policymakers will stick to their “long-term high” stance and keep interest rates unchanged in Wednesday’s decision.
Read more: What the Fed’s rate hike pause means for bank accounts, CDs, loans, and credit cards
Apple is scheduled to release its quarterly results after the market closes on Thursday, and the focus will be on the impact of China’s move to restrict iPhone usage.
Meanwhile, investors are weighing what McDonald’s results, due out Monday, will say about U.S. consumers, which have shown resilience in the face of high borrowing costs. The burger giant exceeded its profit forecast for the third quarter as soaring menu prices boosted sales growth.
In commodity markets, Israel’s cautious start to its Gaza operation was seen as easing fears that the conflict would escalate across the Middle East and encouraging investors to return to markets, with benchmark oil prices has fallen. West Texas Intermediate futures (CL=F) fell 1.8% to $84.01 a barrel, and Brent futures (BZ=F) fell 1.5% to $87.86 a barrel. Traded nearby.
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Stock futures rise after a sharp drop
With the S&P 500 officially entering correction territory last week, major U.S. stock indexes were on an upward trajectory. Investors are now focused on tailwinds from the Fed’s decision and Apple’s earnings release later this week.
Dow Jones Industrial Average (^DJI) futures rose 0.55% (180 points) and S&P 500 (^GSPC) futures rose 0.57%. The tech-heavy Nasdaq 100 (^NDX) contract jumped 0.69%.
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