Futures power higher on Fed effect By Reuters - Investing.com

© Reuters. FILE PHOTO: Traders work on the floor at the NYSE in New York

By Shreyashi Sanyal

(Reuters) - U.S. stock index futures jumped on Thursday after the Federal Reserve indicated that it was ready to cut interest rates as soon as next month to counter growing risks to global and domestic growth.

The central bank left interest rates unchanged at the end of its June policy meeting on Wednesday, but pledged to "act as appropriate" to sustain economic health.

The and the added to gains and are just 0.6% away from their record high closes set in late April, but the more-than-expected dovish Fed led to U.S. treasury bond yields tumbling.

At 7:20 a.m. ET, were up 210 points, or 0.79%. were up 24.25 points, or 0.83%, and were up 94 points, or 1.22%.

Top Chinese and U.S. officials will resume trade talks in accordance with the wishes of their leaders, but China hopes the United States will create the necessary conditions for dialogue, the Chinese commerce ministry said on Thursday.

Among stocks, Apple Inc (NASDAQ:) rose 1.2% in premarket trading after Evercore ISI raised its price target on the iPhone maker, saying investors are underappreciating a large growth opportunity.

Boeing (NYSE:) Co gained 1.4% after the planemaker said it is in talks with other airlines for sales of its 737 MAX after receiving a letter of intent for 200 of the grounded planes from British Airways owner IAG (LON:).

Oracle Corp (NYSE:) jumped 6.1% after the business software maker forecast current-quarter profit above estimates as it benefited from demand for its on-premise IT, cloud services and license support businesses.

Cruise operator Carnival (NYSE:) Corp slid 7.2% after cutting its profit forecast for the year on the Trump administration's sudden ban on cruises to Cuba and expected lower ticket prices in the coming months.

Rivals Royal Caribbean Cruises Ltd and Norwegian Cruise Line Holdings Ltd also fell.

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https://www.investing.com/news/stock-market-news/futures-power-higher-on-fed-effect-1902878

2019-06-20 12:00:00Z
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