Wall Street is looking to bounce back after yesterday's Fed-induced selloff
Stock futures are sharply higher this morning, as Wall Street looks to rebound from yesterday's Fed-fueled selloff. Surging tech is giving the market a boost, as well as a pullback in crude prices and Treasury yields. Before the bell, the Dow Jones Industrial Average (DJI) is up 608 points, the Nasdaq-100 Index (NDX) sports a more than 400-point lead, and the S&P 500 Index (SPX) carries a rare triple-digit gain.
The Federal Reserve yesterday raised interest rates by 25 basis points for the first time in three years, bringing the target range to 3.75% and 4%. Policymakers also signaled another hike could come this year, with Fed Chair Kevin Warsh reiterating inflation remains too high. Meanwhile, weekly jobless claims dropped to 196,000 from 207,000.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Option Exchange saw roughly 2.3 million call contracts and 1.6 million put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.69, while the 21-day moving average remained at 0.59.
- Generac Holdings Inc (NYSE:GNRC) is up 33% premarket, after the company partnered with Amazon.com (AMZN) to provide backup power generators for its data centers, a deal valued at roughly $2.4 billion. Year to date, GNRC is up 28.4% heading into today.
- Lennar Corporation (NYSE:LEN) is down 0.5% before the bell, after the homebuilding name's fiscal third-quarter profit and revenue missed estimates. Inching back toward last week's more than three-year lows, the shares are sporting 23.8% year-to-date deficit.
- Nike Inc (NYSE:NKE) is up 3% in electronic trading, after the athletic retailer announced the appointment of Alexandre Arnault, Deputy CEO of LVMH’s Moët Hennessy, to its board. NKE is down 43.8% since the start of 2026.
- Tomorrow's industrial data numbers will close out this week.
England Keeps Rates Steady
Markets in Asia finished mostly lower, as investors reacted to Federal Reserve’s interest rate hike. Both Hong Kong’s Hang Seng and China’s Shanghai Composite fell 0.4%, while South Korea’s Kospi slipped 0.04%, and Japan’s Nikkei bucked the trend with a modest 0.3% gain.
Stocks are moving higher in Europe. The U.K. 10-year gilt, or bond yield, is in focus after the Bank of England (BoE) kept interest rates steady, but did warn that a rate hike could be imminent. London’s FTSE 100 is up 0.5%, France’s CAC 40 has added 0.3%, and Germany’s DAX is 0.6% higher, at last check.