US Futures Rebound After Fed Hike

S&P 500 futures rose 0.8% as markets digested the Federal Reserve's decision to hike rates. The central bank increased its key interest rate by 25 basis points. This move brought the target range to 3.75% to 4.00%. It is the first increase in three years.

Nasdaq futures gained 1.1% while Dow Jones Industrial Average futures added 0.7%. The Fed signaled a potential second hike to 4.1% in its quarterly projections. Investors are assessing the impact on borrowing costs for mortgages and credit cards.

Bond Yields and Currency Shifts

The two-year US Treasury yield slipped to 4.72%. The 10-year Treasury yield remained near 5.00%. Bond yields have stayed elevated due to energy shocks from the war in Iran. Investors also remain concerned about the growing US national debt.

The US dollar fell to 155.64 Japanese yen from 156.26 yen. The euro strengthened to $1.1478 from $1.1465. These currency moves reflect shifting expectations for global monetary policy.

Oil Prices Decline on Supply Concerns

Brent crude traded 2.2% lower at $103.48 per barrel. This price remains well above the $72 level seen in late February. Benchmark US crude declined 1.7% to $100.65 per barrel. Limited oil flows in the Strait of Hormuz continue to pressure supply.

Saudi Arabia is repairing a key oil pipeline. This closure adds to global supply constraints. Market data from GN auto markets/indices shows these commodity movements. The situation highlights persistent geopolitical risks to energy markets.

Global Markets and Mortgage Rates

European stocks generally advanced Thursday. Britain's FTSE 100 rose 0.6% to 10,751.79. France's CAC 40 gained 0.3% to 8,166.18. Germany's DAX climbed 0.5% to 25,667.03.

Asian markets were mostly lower. US mortgage rates continued their upward trend. The 30-year fixed rate rose to 6.76% from 6.71%. This marks the third consecutive weekly increase. Investors await weekly jobless claims data for further economic signals.