US Stocks Rebound Sharply

The Dow Jones Index is up by 327 points or 0.63 percent on Thursday. Top gainers are Caterpillar (3.67%), Home Depot (2.83%) and 3M (1.68%). Biggest losses came from IBM (-5.43%), Salesforce (-2.73%) and Chevron (-2.16%).

US equity indices rebounded on Thursday as chip producers extended their rally and markets reconsidered risks of a rate hike by the Federal Reserve. The S&P 500 rose 0.7% and the Nasdaq 100 advanced 2%, while the Dow rose 300 points to test its record high. The Federal Reserve held rates unchanged and half of the FOMC projected that at least one rate hike would be appropriate this year. The new Chairman, Kevin Warsh, also followed through on pledges to revamp the Fed's operational framework by launching a set of task forces. Meanwhile, President Trump signed the memorandum of understanding with Iran to soften energy inflation risks. Intel shares surged more than 10% after the US President said the chipmaker struck a deal with Apple. In turn, Micron rose ahead of its earnings next week and Nvidia was 1% higher to trim yesterday's decline.

Futures tracking US equities rebounded on Thursday to erase yesterday's loss as chip producers extended their rally and markets reconsidered risks of a rate hike by the Federal Reserve. Contracts for the S&P 500 were 1% higher, while those for the Nasdaq 100 gained 2% and the Dow 0.7%. The Federal Reserve held rates unchanged and half of the FOMC projected that at least one rate hike would be appropriate this year. The new Chairman, Kevin Warsh, also followed through on pledges to revamp the Fed's operational framework by launching a set of task forces. Meanwhile, President Trump signed the memorandum of understanding with Iran to soften energy inflation risks. Intel shares surged more than 8% premarket after the US President said the chipmaker struck a deal with Apple. In turn, Micron rose ahead of its earnings next week and Nvidia was 1% higher to trim yesterday's decline.