U.S. Stock Futures Rise as Bond Yields Drop Amid Fed's Inflation Stance
U.S. stock futures rose on Thursday after Federal Reserve Chairman Kevin Warsh signaled a firm stance against inflation, which helped ease market concerns and pushed bond yields lower. The benchmark 10-year Treasury yield fell to 4.99%, while oil prices dropped over -1% as tensions in the Middle East eased following drone strikes that had disrupted Saudi Arabia’s pipeline operations. The Fed raised interest rates by a quarter percentage point, bringing the federal funds rate range to 3.75%-4.00%. The central bank indicated further hikes could occur this year based on policymakers' projections. However, some stocks fell sharply due to higher costs and profit warnings from companies like J.B. Hunt Transport Services (JBHT), which dropped over -13% after a Q3 earnings forecast cut. On the positive side, optical networking firms such as Lumentum Holdings (LITE) surged more than +9%. Investors are now looking ahead to key U.S. economic data releases for further clarity on inflation and growth trends.
Tickers: $COHR $EXPE $FANG $JBHT $LITE $OXY
Topics: bond_yields fed_policies inflation oil_prices stock_futures