New York, June 18, 2026, 06:03 EDT
- U.S. stock futures climbed ahead of the open, with tech leading gains. Nasdaq 100 futures added 1.44% in early New York trading, while S&P 500 futures were up 0.81%.
- Stocks recovered after Wednesday’s drop. The Fed held rates at 3.50%-3.75% and pointed to a possible rate hike in 2026.
- Intel shares jumped after President Donald Trump said Apple plans to team up with the chipmaker for U.S. chip design and manufacturing.
U.S. stock index futures were higher Thursday, with Intel and chip stocks lifting the tech sector. A decline in oil prices also eased some of the inflation worries that lingered after the Fed’s latest policy meeting.
Stock index futures traded higher early Wednesday, indicating a positive start for Wall Street. Dow futures were up 261 points, or 0.50%, S&P 500 futures increased 0.81%, Nasdaq 100 futures jumped 1.44%, and Russell 2000 futures gained 1.09% around 5:28 a.m. ET, according to Investing.com data. Futures contracts trade ahead of the cash session, giving some direction on where major indexes could head.
The move landed after stocks took a hit Wednesday. The Dow slid 507.12 points, down 0.98%. S&P 500 gave up 1.21%, and the Nasdaq Composite lost 1.34%. Traders started betting the Fed might hike instead of cutting next.
The Fed kept its benchmark overnight rate at 3.50%-3.75%, but projections out of the meeting indicated policymakers see a chance to hike later this year. A basis point equals one-hundredth of a percent. “There was clearly a hawkish tilt,” Michael James, managing director and equity sales trader at Rosenblatt Securities, said, referring to the central bank’s apparent bias for tighter policy. Reuters
Kevin Warsh, leading his first Fed meeting as chair, pulled back on signaling where rates might go next. Mark Haefele, the chief investment officer at UBS Global Wealth Management, said the combination of a new chair, hawkish forecasts, and disagreement within the Fed made near-term action less likely and suggested rates could stay on hold for longer.
Intel jumped 9.3% premarket after Trump said Apple would team up with Intel on U.S. chip design and manufacturing, according to a Reuters update. Nvidia added 1%. Micron and Marvell each gained roughly 4%.
Apple-Intel headlines pushed supply-chain themes back in focus. Apple is a major TSMC customer, and TSMC makes key AI chips for Nvidia and AMD. A new Apple contract could lock in more demand at Intel, giving a boost to a manufacturing arm that trails TSMC.
Oil prices dropped, which supported sentiment. WTI crude futures slipped 2.64% to $74.76 a barrel. Brent lost 2.02% to $77.94. The 10-year Treasury yield moved down to 4.441%, according to market data. Cheaper oil can take some pressure off inflation, since lower fuel costs affect transport, production, and what consumers pay.
Economic numbers kept bulls and bears busy. U.S. retail and food services sales climbed 0.9% in May versus April, and are up 6.9% from May 2025, according to the Census Bureau. That points to consumers still spending even as prices rise.
Rally could lose steam when cash trading opens. Some investors may see Warsh’s Fed as harder to read, or oil could rise again if Middle East worries flare up. That could put rate-hike risks back in play fast; regional banks and housing-tied stocks already felt the pressure from higher rates on Wednesday.
NYSE trading was still waiting for the 9:30 a.m. ET open. With the holiday on Friday, June 19 for Juneteenth, markets will be closed then, and liquidity could be light ahead of the long weekend.
