U.S. stock futures pointed higher Thursday morning as traders looked to recover from a sharp sell-off the previous session, with the signing of a U.S.-Iran interim agreement pushing oil prices lower. Dow futures pointed to a gain of 303 points, or 0.6%, while S&P 500 futures added 0.9% and Nasdaq 100 futures were up 1.6%. The national average for a gallon of gasoline slipped under $4 for the first time since April, and Brent crude fell 1.4% to $78.44 a barrel. Wednesday's sell-off came after the Federal Reserve held rates steady but signaled a more aggressive posture on future increases, with the revised dot plot placing the median projected year-end rate at 3.8%, up from 3.4% in March. CME Group futures pricing put the odds of a September rate increase at 64%, a sharp jump from roughly 29% before the Fed decision. Semiconductor shares posted sharp premarket moves, led by Intel surging 9% after President Donald Trump announced a domestic chip-design partnership with Apple, while Micron climbed 4.7% and Nvidia was up 1.2%. Record highs were logged in Asia, with Tokyo's Nikkei 225 advancing 1.7% and Seoul's Kospi rising 2.3%, and the Bank of England opted to keep its benchmark rate unchanged.
Intel CorporationIntel surged 9% after President Trump announced a domestic chip-design partnership with Apple.
Micron Technology Inc
Apple Inc.Intel announced a domestic chip-design partnership with Apple, which is positive for Apple's chip supply and technology.
NVIDIA Corporation