S&P 500 Futures Rally Following Positive Market Momentum
S&P 500 futures are showing a positive trajectory, up 0.2%, aligning with gains in both the Dow Jones Industrial Average and Nasdaq 100 futures, which are up 0.2% and 0.3%, respectively.
On Wednesday, the Dow Jones rose 125 points (0.31%) to 40,862, while the S&P 500 climbed 59 points (1.07%) to 5,554, following a strong showing in the Nasdaq Composite that gained 370 points (2.17%) to close at 17,396.
The futures suggest a strong start for Thursday as traders look forward to crucial data on producer prices and jobless claims, due at 8:30 a.m. Eastern.
The recent positive trend follows a significant intraday rebound after traders initially reacted to a slightly higher inflation reading that diminished hopes for a 50 basis point rate cut by the Federal Reserve. Nonetheless, market participants appear to have settled on the expectation of a 25 basis point reduction instead.
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