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Stock Futures, Oil Jump Ahead of Fed Rate Decision

U.S. stock futures rose Wednesday, pointing to an extended rally on Wall Street ahead of the Federal Reserve’s expected decision to raise interest rates, while Chinese equities and oil prices regained ground after days of losses.

In the U.S., S&P 500 futures were up 0.8% and contracts tied to the Dow Jones Industrial Average gained 0.7%. Changes in futures don’t necessarily predict moves after the opening bell.

In Europe, the Stoxx Europe 600 rose 1.9% in morning trade, with the materials and energy sectors leading gains.

Glencore

jumped 3.4% and

Anglo American

climbed 2.7%. The FTSE 100 added 1.2%, France’s CAC 40 climbed 2.2% and Germany’s DAX added 2.3%.

In Asia, Hong Kong’s Hang Seng gained 8.9%, Japan’s Nikkei 225 index added 1.6% and China’s benchmark Shanghai Composite rose 3.5% after falling as much as 1.2% during the session.

In commodities, Brent crude was up 3.3% to $103.18 a barrel. Gold slipped 0.6% to $1,917.50 a troy ounce.

The Swiss franc, the euro and the British pound gained 0.2%, 0.3% and 0.1% respectively against the U.S. dollar.

The yield on German 10-year bunds strengthened to 0.403% from 0.336% and 10-year U.K. government debt yields gained to 1.635% from 1.579%. Ten-year U.S. Treasury yields rose to 2.197% from 2.148%. Yields move inversely to prices.

Traders work at the New York Stock Exchange.



Photo:

Xinhua/Zuma Press

An artificial-intelligence tool was used in creating this article.

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8


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