TSX Futures Soar on Fed's Inflation Commitment

The TSX Composite Index rebounded strongly on Thursday, rising by over 1% after investors returned to Canadian equities following the benchmark's slide to a more than one-month low in the previous session.

The index gained 358.47 points, or 1.01%, to close at 35,849.74, marking a significant recovery from its decline of 0.3% in the previous session.

The rally was driven by the Federal Reserve's decision to raise its benchmark interest rate by 25 basis points to 3.75%-4.00%, which provided some relief to markets that were concerned about higher borrowing costs putting pressure on equities.

Investors focused on the Fed's renewed emphasis on controlling inflation and its willingness to keep tightening if needed, which helped alleviate concerns about a potential economic downturn.