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Futures up: S&P 500 1.05%, Nasdaq 1.21%, Dow 0.79%
Aug 7 (Reuters) - U.S. stock index futures jumped on
Wednesday as risk appetite returned after a steep selloff
earlier in the week, with sentiment also getting a boost from
cautious comments on interest-rate hikes by an influential Bank
of Japan policymaker.
Big technology stocks extended their rebound, rising more
than 1% in premarket trading.
Wall Street's main indexes ended Tuesday with healthy gains
after comments from Federal Reserve officials eased worries of a
U.S. recession following weak economic data last week.
The spotlight shifted back to earnings. Super Micro Computer ( SMCI )
fell 12.7% after reporting quarterly adjusted gross
margin below estimates. Rival Dell Technologies ( DELL ) dropped
2.4%.
Airbnb ( ABNB ) slid 16% after the company forecast
third-quarter revenue below estimates and warned of shorter
booking windows, suggesting travelers were waiting until the
last minute to book due to economic uncertainty.
At 5:12 a.m. ET, U.S. S&P 500 E-minis were up 55.5
points, or 1.05%, with 212,861 contracts changing hands, Nasdaq
100 E-minis were up 220.5 points, or 1.21%, Dow E-minis
were up 310 points, or 0.79%
Bank of Japan (BOJ) Deputy Governor Shinichi Uchida said in
a speech to business leaders that the central bank would not
raise interest rates when financial markets are unstable.
The BOJ rate hike on July 31 sparked a global stocks rout as
the yen surged and investors unwound sharp positions of the
currency carry trades that fund high-yielding assets.
"The silver lining is that, while the current volatility
might be painful, a reset after a period of excessive optimism
could lead to a healthier market," said Oliver Blackbourn,
portfolio manager-multi-asset team at Janus Henderson.
"It's important to understand that a soft landing is being
questioned but is not out of the question, meaning economic
resilience and declining interest rates could ultimately help to
lift risk assets again."
Wall Street's fear gauge, the CBOE Volatility Index,
was down at 23.43 points, from a peak of 65.73 on Monday.
The markets now await more commentary on monetary policy
from U.S. central bank officials next week, in the run-up to the
Jackson Hole event where Fed Chair Jerome Powell is scheduled to
speak.
Among other movers, Boeing ( BA ) rose 1.5% on plans to make
design changes to prevent a future mid-air cabin panel blowout
like the one in an Alaska Airlines 737 MAX 9 flight in
January.
Amgen ( AMGN ) fell 4.0% after the drugmaker said
second-quarter profit slipped 1% as higher expenses offset a 20%
increase in revenue.
Rivian dropped 6.3% after forecasting that
production would not rise this year and said deliveries in the
third quarter would be slightly lower.
(Reporting by Shubham Batra in Bengaluru; Editing by Sriraj
Kalluvila)