US stock futures little changed after S&P 500 gains 1.14%

  • US stock futures were little changed after major averages rallied in Thursday trading.
  • 10-year Treasury yield fell to around 4.93% after topping 5% earlier this week.
  • The Federal Reserve delivered a widely expected rate hike and signaled further tightening.

US stock futures were little changed Friday after Wall Street’s major averages rallied in the previous session, helped by falling oil prices and bond yields. The Dow rose 0.61%, the S&P 500 gained 1.14% and the Nasdaq Composite advanced 1.69% on Thursday. Chipmakers led the advance as investors extended a recovery from earlier concerns about AI safety and the potential impact on AI-related capital spending. Micron rose 5.5%, Nvidia 2.5%, Intel 7.7%, AMD 6.4% and SanDisk 6.2%. Lower oil prices eased inflation concerns and supported a rally in Treasuries, with the US 10-year yield falling to around 4.93% after exceeding 5% earlier in the week. Stocks also benefited from relief after the Federal Reserve delivered a widely expected rate hike, while policymakers signaled further tightening to contain inflation.

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