Assessment: The Fed will slow money printing in January by reducing the amount of bond purchases to $60 billion from $120 billion, in an effort to curb inflation …
U.S. stock futures rose sharply in early Thursday trading after the Federal Reserve signaled it would be aggressive on tapering and sees three interest rate hikes in 2022.
Futures on the Dow Jones Industrial Average jumped about 222 points. S&P 500 and Nasdaq 100 futures added 0.7% each.
“And do not harm the oil and wine’ Rev. 6:6
Shares of companies that have done well in previous rate-hiking cycles led premarket gainers. Materials stocks FMC Corp. and Freeport-McMoRan both rose more than 3% ahead of the opening bell. Bank stocks also rose across the board, with JPMorgan Chase, Citigroup and Bank of America all up about 0.6%.
In transportation news, Delta Air Lines reported that it now expects to see a profit of $200 million in the fourth quarter, after previously projecting a loss. Shares rose 2.2% on the news.
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