Investing.com - U.S. futures jumped on Thursday as investor sentiment was boosted after the Federal Reserve kept open the possibility of rate cuts in the future.
Policymakers signaled on Wednesday that they would be willing to cut rates in order to combat slowing global growth and cooling inflation. Fed central bankers slashed their rate outlook for the rest of the year, according to the Fed’s dot plot projections, while Chairman Jerome Powell said at a press conference that many agree the case for lowering rates is increasing.
Central banks around the world could soon take the Fed’s lead. The Bank of Japan left interest rates unchanged overnight, but signaled it could provide stimulus measures in light of escalating global risks.
Meanwhile the Bank of England is expected to keep rates steady this morning.
In commodities, crude oil jumped 3.5% to $55.84 a barrel. Gold futures gained 2.7% to $1,384.85 a troy ounce while the U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.4% to 97.208.
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