U.S. stock futures surged Thursday, on the heels of a Federal Reserve meeting that investors perceived as more dovish. Dow Jones Industrial Average futures YMU19, +0.22% jumped 200 points, or 0.8%, to 26,739, while S&P 500 futures ESU19, +0.32% gained 24.10 points, or 0.8%, to 2,957.50. Nasdaq-100 futures NQU19, +0.38% gained 94.50 points, or 1.2%, to 7,796.50. Global equities also rallied, with Europe and Asia stocks posting solid gains.
The Fed said it would “closely monitor” the economy and Chairman Jerome Powell said the central bank would cut interest rates if needed. The yield on the 10-year government bond TMUBMUSD10Y, +0.00% was hovering at 2%, the lowest since 2016, while gold prices GCQ19, -0.08% surged over 2% to $1,383.60 an ounce and the dollar DXY, -0.07% fell against rivals.