US stock futures bounce ahead of Fed, oil gains on Russia-Ukraine
LONDON (Reuters) – U.S. stock index futures rallied on Wednesday ahead of the outcome of a Federal Reserve policy meeting, with rate hikes this year already priced in, while oil rose towards recent seven-year highs on tension between Russia and Ukraine.
The Fed is due to update its policy plan at 1900 GMT after a two-day meeting. A first rate increase is seen in March, and three more quarter-point increases are expected by year-end.
U.S. S&P futures jumped 1.34%, indicating a stronger open on Wall Street, after the S&P 500 index lost 1.22% in the previous session.
Nasdaq futures rose 2% after Microsoft Corp jumped in pre-market trading, as the tech giant forecast revenue for the current quarter broadly ahead of Wall Street targets..
