By Oliver Gray
Investing.com - U.S. stock futures were slightly higher in early APAC trades on Thursday, after major benchmark indices rallied during regular deals as Federal Reserve policymakers raised interest rates by a quarter-point 0.5%, the first increase in borrowing costs since 2018, while signalling six more hikes this year.
On Wednesday, the Dow Jones Industrial Average rose 518.76 points or 1.55% to 34,063.11, the S&P 500 gained 95.41 points or 2.24% and the NASDAQ Composite climbed 487.93 points or 3.77% to 13,436.55.
Dow Jones Futures added 0.08%, S&P 500 Futureslifted 0.06% and Nasdaq 100 Futures were up just 0.02%.
Among stocks, technology companies were the standout performers, with Block Inc (NYSE:SQ) rallying 12.57%, Amazon.com Inc (NASDAQ:AMZN) up 3.89%, Microsoft Corporation (NASDAQ:MSFT) adding 2.52%, Meta Platforms Inc (NASDAQ:FB) up 6.04%, Apple Inc (NASDAQ:AAPL) lifting 2.9%, Alphabet Inc (NASDAQ:GOOGL) up 3.16% and Advanced Micro Devices Inc (NASDAQ:AMD) lifting 5.52%.
EV makers surged, as Tesla Inc (NASDAQ:TSLA) added 4.78%, Rivian Automotive Inc (NASDAQ:RIVN) gained 12.38% and Lucid Group Inc (NASDAQ:LCID) added 7.46%.
Major financial stocks also surged, with JPMorgan Chase & Co (NYSE:JPM) adding 4.47%, Citizens Financial Group Inc (NYSE:CFG) up 3.39%, Bank of America Corp (NYSE:BAC) adding 3.13%, Citigroup Inc (NYSE:C) up 3.07%, Wells Fargo & Company (NYSE:WFC) lifting 2.97%, Morgan Stanley (NYSE:MS) gaining 6.29% and Goldman Sachs Group Inc (NYSE:GS) up 3.52%.
In extended deals, Lennar Corporation (NYSE:LEN) gained 2% after the company reported stronger-than-expected revenue, while Williams-Sonoma Inc (NYSE:WSM) lifted 6% after beating earnings expectations.
Ahead in the session Investors will be looking to initial jobless claims, Housing starts, the Philadelphia Fed manufacturing index and industrial production set to be released before the U.S. market open.