S&P 500 futures rose Thursday as investors weighed the latest corporate earnings reports, including strong results from Meta Platforms. Futures tied to the broad-market index gained 0.5%, while Nasdaq-100 futures climbed nearly 0.6%. Futures tied to the Dow Jones Industrial Average added 53 points, or 0.1%. Meta Platforms rallied about 8% before the open on stronger-than-expected second-quarter results and upbeat guidance, while Shake Shack jumped more than 14.5% after posting a revenue beat. Arm Holdings, meanwhile, slid roughly 9% after offering an underwhelming current-quarter guide. Stocks are coming off a winning session that saw the S&P 500 rally 1.6% for its best day since February. The Nasdaq popped more than 2%, while the 30-stock Dow closed slightly higher. Those gains came as Federal Reserve Chair Jerome Powell signaled the central bank could cut at its next meeting if the data continues supporting the narrative that inflation is easing. The Fed held interest rates steady. “If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September,” Powell said. Fed funds futures trading indicated an 86% likelihood that the central bank cuts rates by 25 basis points at its September meeting, according to CME Group’s FedWatch Tool. “Ultimately, the market is counting on the rate-cutting cycle beginning in September — despite how many times Powell tried to keep the Fed’s options open — and the rally in stocks this afternoon began to pick up steam the more that Fed Chair tried to put the horse back in the barn throughout the press conference,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance. Treasury yields were steady Thursday as investors digested comments from Federal Reserve Chairman Jerome Powell, who suggested a September rate cut was on the table. The 2-year Treasury yield traded around 4.28% on the day. The rate tumbled to roughly 4.26% in late trading Wednesday before recovering slightly. The 10-year Treasury hovered around 4.05% Thursday after falling to 4.03% late in the previous session. Asia-Pacific markets were mixed Thursday, after comments from U.S. Federal Reserve Chair Jerome Powell indicated a rate cut in September if inflation data remained “encouraging.” However, Japan’s Nikkei 225 tumbled 2.49% and closed at 38,126.33, while the broad-based Topix plunged 3.24% to 2,703.69. The indexes were mainly dragged by losses in real estate stocks, while heavyweight exporters also saw losses as the yen strengthened. Australia’s S&P/ASX 200 touched new all-time highs, gaining 0.28% to end at 8,114.7. South Korea’s Kospi climbed 0.25% and finished at 2,777.68, while the small-cap Kosdaq was up 1.29% at 813.53. Reuters reported the country’s exports rose at the fastest pace in six months in July, according to preliminary data. South Korean exports rose 13.9% year-on-year to $57.49 billion, after a 5.1% rise the previous month. However, the figure was weaker than an 18.4% increase expected in a Reuters survey of economists. Hong Kong’s Hang Seng index was down 0.13% as of its final hour, while the CSI 300 on mainland China closed 0.66% lower at 3,419.27. Oil prices rose in early Asian trading on Thursday, extending strong gains in the previous session after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and on signs of strong oil demand in the U.S. Global benchmark Brent crude futures rose 67 cents, or 0.8%, to $81.51 per barrel by 0007 GMT, while U.S. West Texas Intermediate crude futures rose 69 cents, or 0.9%, to $78.60 per barrel. The most active contracts on both benchmarks jumped about 4% in the previous session. Gold prices dipped as the dollar rebounded on Thursday, after bullion hit two-week highs earlier in the session on Federal Reserve Chair Jerome Powell’s indications that a September interest rate cut might be considered. Spot gold was down 0.7% at $2,432.29 per ounce, as of 0956 GMT, having hit its highest since July 18 earlier in the session. Prices were just $51 shy of the record high of $2,483.60 scaled on July 17. U.S. gold futures firmed 0.1% to $2,476.10.