Futures Progress Following Record Day

Stock futures climbed Thursday morning after the three major averages closed at new records and the Federal Reserve concluded its latest policy meeting.

Futures for the Dow Jones Industrials tacked on another 112 points, or 0.3%, to 40,052.

Futures for the S&P 500 jumped 24.25 points, or 0.5%, to 5,311.

Futures for the NASDAQ Composite towered 177.25 points, or 1%, to 18,657.

Semiconductor stock Micron Technology jumped more than 16% in premarket trading on better-than-anticipated earnings. Discount retailer Five Below slipped about 12% after posting disappointing quarterly results.

As of Thursday morning, traders are pricing in a nearly 70% chance that the Fed begins cutting rates in June.

Traders on Thursday will watch for data on jobless claims and existing home sales conditions due Thursday morning. They’ll also monitor earnings reports from Darden Restaurants before the bell, followed by FedEx and Nike after the market closes.

In Japan, the Nikkei 225 returned from holiday to vault 2%, while in Hong Kong, the Hang Seng index gathered 1.9%,

Oil prices tailed off 15 cents to $81.12 U.S. a barrel.

Gold prices rumbled ahead $47.80 to $2,208.80 U.S. an ounce.

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