US stock futures continued to trade in green before the opening bell on Friday, September 18 after Federal Reserve hiked interest rate for the first time in three years.
Nasdaq futures surged 0.51% to 29,596, S&P 500 gained 0.27% to 7,660.5, while Dow Jones Industrial Average traded 0.16% higher at 51,889 by 3:53 am ET or 2:35 pm IST. Stock futures were up on the backdrop of several global cues, including cooling down oil prices.
Here are three reasons why US stock market is expected trade higher today -
Slipping oil prices
Brent crude slipped below $104 a barrel on Friday, extending its decline for a third straight day as signs of easing supply disruptions in the Middle East and renewed focus on diplomacy between the US and Iran reduced some of the recent risk premium. Brent had already fallen more than 3% over the previous two sessions, while West Texas Intermediate crude traded near $101 a barrel.
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Chips Rally
Stock futures rally as semiconductor stocks rebounded as investors turn bullish in the sector. Sandisk, Sk Hynix, Intel, AMD and Micron were in green during premarket trading, supporting Nasdaq futures.
Thursday's momentum continues
A day after the interest rate hike, Wall Street rallied with Nasdaq Composite climbing 1.44% or 375 points to 26,353.61, S&P 500 surging 1.06% or 80 points to 7,632.46, while Dow Jones jumping 0.8% or 412 points to 51,873.9 by 9:31 am ET or 7:01 pm IST. Stock futures trading green highlight the continued positive sentiment in the market.
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