Futures Rise Amid Fed Hike Uncertainty
US stock futures rose on Friday morning as investors adjusted to the Federal Reserve's first rate hike in three years. The Dow Jones Industrial Average (YM=F) futures rose by 0.1%, while the S&P 500 (ES=F) edged up 0.2% and the Nasdaq-100 (NQ=F) climbed 0.4%. This followed a rebound on Thursday driven by gains in tech stocks and lower oil prices, which have returned to the $100 level.
The energy shock stemming from disruptions in the Strait of Hormuz continues to baffle analysts and drive inflation higher, complicating the picture for global central banks. Top CEOs remain unconvinced that one rate hike will be enough to bring down stubbornly high inflation. JPMorgan Chase CEO Jamie Dimon stated, 'It's not clear to me we've slayed inflation.'
The Bank of Japan raised interest rates to the highest level in 31 years on Thursday, which helped boost US stock futures further.