Stock futures jumped on Thursday as investors rotated back into their favorite technology stocks now that the Federal Reserve has lowered rates and signaled more cuts are on the way. S&P 500 futures traded higher by nearly 0.9%, while Nasdaq-100 futures gained 1.1%. Futures tied to the Dow Jones Industrial Average climbed 326 points, or 0.7%. Intel shares rallied about 28% in premarket trading after Nvidia said it will invest $5 billion in the chipmaker to co-develop data center and PC products. Shares of Nvidia jumped 3%. Other tech shares also rose before the open, with Broadcom, Palantir and Tesla each higher by more than 1%. Advanced Micro Devices dropped 5%, meanwhile. The moves follow a volatile day of trading Wednesday after the Fed, as anticipated, slashed its benchmark rate by a quarter percentage point. The Dow Jones Industrial Average was the lone gainer, rising 260 points, or about 0.6%, while the S&P 500 and the Nasdaq Composite ended the session in the red. During a news conference following the decision, Fed Chair Jerome Powell put a damper on investor hopes that the central bank would be on a lengthy rate-cutting path this year, as he called the latest cut “risk management.” In fact, policymakers are predicting two more reductions this year, but just one in 2026, while traders had priced in two to three more cuts next year. “The Fed’s 25 basis point cut is a clear signal: the softening labor market and stubborn inflation have pushed policymakers to act — but gradually. This isn’t a pivot, it’s a measured step,” Gina Bolvin, president at Bolvin Wealth Management Group, said in a statement. “For investors, this means modest rate relief, not fireworks,” she added. “The Fed is walking a fine line, and upcoming inflation and jobs data will determine what comes next.” Despite Wednesday’s losses, the S&P 500 and the Nasdaq are still headed for weekly gains, being up 0.2% and 0.5% in the period, respectively. That puts the broad market index on pace for its sixth positive week in seven and the tech-heavy Nasdaq on track for its third positive week in a row. Meanwhile, Wednesday’s move higher for the 30-stock Dow puts its week-to-date advance at 0.4%, a move that would signify its second consecutive week of gains, if it holds. U.S. Treasury yields moved higher on Thursday after fresh jobless claims data assuaged investors’ fears about a labor market slowdown. The 10-year Treasury yield added less than 1 basis point to 4.083 and the 2-year Treasury yield gained less than 1 basis point to 3.553%. The 30-year Treasury bond yield rose by3 basis points to 4.69%. Japan’s benchmark Nikkei 225 rose 1.15% to close at a fresh record of 45,303.43 Thursday, led by gains in the real estate and technology sectors. Other Asia-Pacific markets traded mixed after the Federal Reserve lowered its benchmark rate as expected on Wednesday, with Fed Chairman Jerome Powell framing the move as a “risk management cut,” rather than something more directed at shoring up a weak economy. South Korea’s Kospi was up 1.40%, closing at 3,461.3, while Australia’s S&P/ASX 200 slid 0.83% to end the trading day at 8,745.2. Hong Kong’s Hang Seng Index slipped 1.31%, while the mainland CSI 300 lost 1.16% to 4,498.11. Oil prices edged lower on Thursday after the Federal Reserve cut interest rates as traders weighed the start of looser monetary policy against concerns about the U.S. economy. Brent crude futures were down 30 cents, or 0.4%, at $67.65 a barrel. U.S. West Texas Intermediate futures edged down 30 cents, or 0.5%, to $63.75. Gold retreated further on Thursday from the previous session’s record high, pressured by an uptick in the dollar after the U.S. Federal Reserve adopted a measured tone on future easing following a widely expected 25 basis-point interest rate cut. Spot gold was down 0.1% at $3,657.21 per ounce as of 0801 GMT. Prices hit a record high of $3,707.40 on Wednesday, before closing 0.8% down. U.S. gold futures for December delivery slipped 0.7% to $3,691.0.