Futures on US stock indices slightly declined on Thursday evening, pulling back after a sharp rise on Wall Street. Futures on the S&P 500 fell by 0.09% to 7,699.75 points, on the Nasdaq 100 by 0.17% to 29,694.50, and on the Dow Jones Industrial Average by 0.09% to 52,173.0.
The pullback followed a strong session: the S&P 500 index rose by 1.1%, the Nasdaq Composite by 1.7%, and the Dow Jones by 0.6%. Technology companies and chip manufacturers were among the leaders of the rise, recovering from losses earlier in the week when markets were reacting to concerns about slowing AI development.
The rise on Wall Street was partly due to falling oil prices amid reports of improved supplies in the Middle East. Saudi Arabia increased oil supplies to Asian buyers via Oman, partially offsetting disruptions caused by Houthi attacks in the Red Sea. The resumption of the 'east-west' pipeline, halted after strikes last week, is also expected. Meanwhile, the Strait of Hormuz remains closed, preventing prices from falling further. The yield on 10-year Treasury bonds dropped below 5% after the Fed raised rates for the first time in three years and issued tough comments: Chairman Kevin Warsh warned that inflation remains too high. Nevertheless, yields have decreased – the rate hike and the regulator's forecasts eased some uncertainty regarding the future course of policy.
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