US equity futures were edging higher pre-bell Thursday as traders evaluated the Federal Reserve's interest-rate increase and the possibility of further monetary policy tightening.
Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.1% higher.
The US Federal Reserve raised its benchmark lending rate by 25 basis points in a unanimous vote on Wednesday to combat sticky inflation, while signaling another hike later this year. The Federal Open Market Committee lifted the federal funds rate to a range of 3.75% to 4%, the first time it has tightened monetary policy since July 2023.
"We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed," Federal Reserve Chair Kevin Warsh said at a press conference. "Today the FOMC decided that this standard has not been satisfied."
President Donald Trump told reporters Wednesday evening that the US is "hopefully" nearing the end of the war with Iran, adding that the Middle Eastern country wants to make a deal.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.3% at $103.35 per barrel and US West Texas Intermediate crude 1.7% lower at $100.73 per barrel.
Housing starts for August, slated for 8:30 am ET, are expected at 1.320 million units annually, up from 1.239 million, according to estimates compiled by Bloomberg. The weekly jobless claims bulletin is expected to show 207,000 new unemployment claims for the week ended Sept. 12, up from 206,000 in the prior week. The Philadelphia Fed's regional manufacturing index for September is seen coming in at 32.1, down from 47.4 posted previously.
Pending home sales for August, slated for 10 am ET, are seen dropping 0.1% after a decrease of 2.3% in the prior month.
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