Stock futures were higher on Thursday as traders mulled over the release of earnings reports from major technology firms as well as the latest Federal Reserve interest rate decision. Futures linked to the S&P 500 added 0.2%, while Nasdaq 100 futures were up 0.1%. Dow Jones Industrial Average futures gained 42 points, or 0.1%. Meta Platforms added 8% in premarket trading after the Facebook parent gave a stronger-than-expected first-quarter sales forecast. Fellow “Magnificent Seven” member Tesla shares saw gains as well, adding 2% after the company’s fourth-quarter results beat expectations. However, the broad market gains were kept in check by Microsoft’s 6% fall. That megacap tech name reported that cloud growth slowed in the fiscal second quarter. The company also issued soft guidance on operating margin for the fiscal third quarter. Investors are now turning their attention to Apple, which is set to report earnings after the bell Thursday. Elsewhere in earnings, Caterpillar shares were up more than 1% after the industrial giant reported fourth-quarter results that easily beat the Street. Stocks are coming off a flat session after the S&P 500 briefly topped the 7,000 threshold after the Fed kept its benchmark interest rate at a range of 3.5% to 3.75%. The 30-stock Dow added just 12 points. The tech-heavy Nasdaq Composite climbed about 0.2%, aided by advances in Nvidia and Micron Technology. In its post-meeting statement, the policy-setting Federal Open Market Committee said that indicators are suggesting that “economic activity has been expanding at a solid pace” and that the unemployment rate “has shown some signs of stabilization.” Still, fed funds futures trading are still pricing in two quarter percentage point cuts by the end of 2026, according to the CME FedWatch Tool. “The Fed statement was largely as expected, and markets tend to move on surprises,” said Sameer Samana, Wells Fargo Investment Institute head of global equities and real assets. “We are looking to earnings and economic data to drive the next leg higher, but also would not be surprised to see some midterm-elections related volatility in 2026.” Safe-haven demand among investors has continued to rise, with gold and silver prices surging to fresh highs Thursday. Gold futures were up 4%, while silver futures advanced 5%. U.S. Treasury yields were relatively unchanged on Thursday as investors assessed the U.S. Federal Reserve’s decision to hold interest rates steady. The 10-year Treasury yield was less than 1 basis point lower at 4.249%, while the 2-year Treasury note yield was down more than a basis point at 3.569%. The 30-year Treasury yield rose more than 1 basis point to 4.871%. Asia-Pacific markets mostly rose Thursday. Australia’s S&P/ASX 200 declined 0.07% to close at 8,927.5. Japan’s Nikkei 225 reversed earlier losses to close slightly above the flatline at 53,358.71, while the Topix added 0.28% to 3,545.3. South Korea’s Kospi rose 0.98% to end the trading day at 5,221.25 while the small-cap Kosdaq advanced 2.73% to 1,164.41. Hong Kong Hang Seng Index rose 0.41% in choppy trade, while mainland’s CSI 300 ended the trading day 0.76% higher at 4,753.87. Brent oil futures prices jumped on Thursday, hitting a four-month high on rising concerns of the potential impact a possible U.S. military attack on Iran, OPEC’s fourth-largest producer, with output of 3.2 million barrels per day. Brent crude futures rose $1.39, or 2.03%, to $69.79 a barrel by 1011 GMT. At its intra-day peak, Brent traded as high as $70.35 a barrel, its highest since late-September. U.S. West Texas Intermediate crude was up $1.37, or 2.17%, to $64.58 a barrel at 1011 GMT. WTI futures topped $65 a barrel on Thursday, also reaching a four-month high. Gold advanced to a record high close to $5,600 an ounce on Thursday, as investors sought refuge from escalating geopolitical tensions and weakening economic signals in the United States. Silver also benefited from the flight to safety, breaking above the $120 level. Spot gold was 2.1% higher at $5,513.09 an ounce by 1122 GMT, after earlier touching $5,594.82. The metal, which has hit new highs in nine straight sessions, was up 28% for the month so far. U.S. gold futures for February delivery were up 3.8% at $5,506.30 after hitting an all-time high of $5,626.80. “Gold’s perfect storm continues with U.S.-Iran geopolitical tensions, a weak dollar and market expectations of more Fed rate cuts driving prices to endless record highs,” said Jamie Dutta, market analyst at Nemo.money, adding that strong ETF inflows have also contributed to the rally. SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, said its holdings on Wednesday rose to 35,043,181 ounces, the highest since May 2022.
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