“U.S. stock index futures edged higher on Thursday on the back of high-flying companies such as Apple and Amazon, while investors assessed the Federal Reserve’s policy statement,” Amy Caren Daniel reports for Reuters.
“The Fed, as expected, raised interest rates on Wednesday, and left its monetary policy outlook for the coming years largely unchanged amid steady economic growth and a strong job market, adding it did not expect any surprises on inflation,” Daniel reports. “Although the central bank’s statement marked the end of the era of ‘accommodative’ monetary policy, Fed Chairman Jerome Powell downplayed the significance of the change saying the policy was still generally accommodative.”
“Shares of Apple rose 1.1 percent in premarket trading after JP Morgan started coverage with an ‘overweight’ rating, citing the iPhone maker’s quicker-than-expected move to a services business,” Daniel reports. “At 8.30 a.m. ET, several sets of U.S. economic data are expected. This includes the final number for U.S. economic growth, which is expected to show a 4.2 percent annualized rate in the second quarter.”
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MacDailyNews Note: Currently in pre-market trading, Apple (AAPL) shares are up $3.31, or 1.50% to $223.73.