U.S. equity futures rose Thursday, rebounding from the prior day’s selloff when the Federal Reserve decided to hold rates steady. Microsoft and semiconductors helped drive those gains. Futures tied to the Dow Jones Industrial Average added 225 points, or 0.4%. S&P 500 futures advanced 0.7%, and Nasdaq 100 futures climbed 1.7%. Microsoft jumped 8.3% in premarket trading amid growth from its Azure business. Semiconductors jumped as a result, with the iShares Semiconductor ETF (SOXX) higher by more than 3% in the premarket. In contrast, Meta Platforms was down 9% ahead of the market open after issuing a soft revenue forecast and a 91% drop in second-quarter free cash flow. “This is ultimately a tale of two AI investment strategies. One company is increasing profits while spending heavily, while the other is allowing those costs to eat into its bottom line,” said Stephen Evans, chief investment officer at Pave Finance. Wall Street is coming off a dismal session. On Wednesday, the Dow plunged more than 1,100 points, marking the blue chip index’s worst decline since April 2025. The Nasdaq 100 fell into correction territory. The Nasdaq Composite was not too far off those levels itself. “The Fed remains patient [and in] a wait-and-see mode and will continue to monitor how the economy evolves in the upcoming months,” said Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute. “This leaves the September meeting ‘live’ as an opportunity for the Fed to act if supported by the incoming data to appease rising inflation pressures.” The latest economic data released Thursday showed U.S. growth slowing to 1.5% in the second quarter, according to the Bureau of Labor Statistics. That missed the Dow Jones consensus estimate of 1.8%. Inflation remained above the Fed’s target. The latest personal consumption expenditures price index fell a seasonally adjusted 0.1% for the month and 3.7% for the year, in line with the Dow Jones consensus estimate. But core PCE, which excludes food and energy, showed a monthly increase of 0.1% and an annual level of 3.3%. Economists were anticipating respective forecasts for 0.2% and 3.3%. One of the busiest weeks of corporate earnings continues Thursday, with Amazon, Apple, and Coinbase set to report after the close. U.S. Treasury yields were little changed on Thursday as investors weighed the Federal Reserve’s decision to hold interest rates steady and sought insight on future monetary policy decisions. The 30-year Treasury bond yield hovered near levels not seen since 2007, having jumped 6 basis points after regular trading on Wednesday to above 5.2%. The rest of the yield curve was little changed. Asia-Pacific markets closed broadly lower on Thursday. South Korea’s Kospi fell 1.23% to 5,593.56 in choppy trade. Shares of Samsung Electronics ended Thursday’s trade at 0.72% lower, reversing earlier gains even as the company’s second-quarter operating profit beat estimates on soaring AI demand. Australia’s benchmark S&P/ASX 200 fell 0.78% to 8,967.70. Mainland China’s CSI 300 closed 1.10% lower at 4,549.72, while Hong Kong’s Hang Seng index was up 0.25% in the last hour of trade on Thursday. Japan’s Nikkei 225 closed 0.71% higher at 61,867.43, supported by gains in the tech and consumer non-cyclicals sectors. Oil prices fell Thursday, despite escalating fighting in the Middle East and widening attacks on regional energy infrastructure. Brent crude futures, the international benchmark, lost about 2% to $88.93 a barrel. U.S. West Texas Intermediate futures fell 1.6% to $83.09. The U.S. launched a “heavy wave” of strikes against Iran late Wednesday in retaliation for missile attacks on American forces in the region. Iran’s Islamic Revolutionary Guard Corps has threatened further escalation in response. Gold prices pared early gains after the latest U.S. inflation data, rising 0.2% to $4,073 an ounce. Investors continued to assess ​the Federal Reserve’s ​decision to keep interest ​rates unchanged this month and rising tensions in the Middle East that have heightened inflation concerns, clouding the policy outlook. The Fed on Wednesday left its benchmark rate in the 3.50%-3.75% range, while U.S. central bank chief Kevin Warsh pledged an unwavering commitment to ‌bring inflation down. Spot gold prices rose about 2% after the policy decision.