U.S. stock index futures were higher Thursday morning as Wall Street's rally on hopes of an imminent rate cut from the Federal Reserve looked set to continue.
At around 4.00 a.m. ET, Dow futures were up 68 points and indicated a positive open of around 73 points, while futures for the S&P 500 and Nasdaq also ticked higher.
Comments from Fed Chair Jerome Powell on Tuesday further fueled expectations that the U.S. central bank is moving closer to cutting interest rates, causing U.S. stocks to surge. The Dow jumped more than 500 points on Tuesday, its second best day of the year, and continued its rally into Wednesday.
Powell said that the central bank will keep an eye on current developments in the economy, and would do what it must to “sustain the expansion.”