Dow Futures Rise About 300 Points as Markets Attempt Rebound After Fed-Driven Sell-Off
U.S. stock futures pointed higher following a decline triggered by the Federal Reserve's interest rate decision, according to CNBC.
U.S. stock futures rose by roughly 300 points on the Dow Jones Industrial Average as markets attempted to recover from a sell-off linked to the Federal Reserve's latest policy decision, CNBC reported.
According to the report, the Federal Reserve raised its overnight funds rate by a quarter percentage point in a move that had been widely anticipated by investors. The central bank also signaled that another rate hike could occur later this year, CNBC said.
The rate increase and the accompanying signal of further tightening contributed to a sell-off in equities, the report indicated. Futures trading pointed to an attempted rebound in the following session, with Dow futures up approximately 300 points, according to CNBC's live coverage.
CNBC did not specify the exact level of the Dow or provide additional detail on futures movements for other major indexes in the excerpt reviewed. The report was part of ongoing live coverage of stock market activity.
Sources
- Dow futures rise 300 points as market tries to recover after Fed sell-off: Live updates — CNBC — Top News
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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