World markets today: US stocks rebound after Fed disappoints, Big Tech earnings awaited

US stocks rebounded on Thursday, following a selloff in the previous session after the Federal Reserve dashed hopes for early rate cuts.

At 10:04 a.m. ET, the Dow Jones Industrial Average was up 50.64 points, or 0.13 per cent, at 38,200.94, the S&P 500 was up 21.14 points, or 0.44 per cent, at 4,866.79, and the Nasdaq Composite was up 112.80 points, or 0.74 per cent, at 15,276.81.

Investors are now awaiting

Big Tech earnings due later in the day. Apple, Amazon and Meta Platforms will report their results after trading hours.

Shares of Microsoft rose 2.4 per cent and Google parent Alphabet added 1.3 per cent.

At the opening bell, the S&P 500 rose by 15.46 points, or 0.32 per cent, at 4,861.11, while the Nasdaq Composite gained 90.01 points, or 0.59 per cent, to 15,254.02 at the opening bell. The Dow Jones Industrial Average rose 25.04 points, or 0.07 per cent, at the open to 38,175.34.

On Wednesday, US stocks tumbled after the Federal Reserve held interest rates steady while dashing hopes for interest rate cut as soon as March. The Dow Jones Industrial Average fell 317.01 points, or 0.82 per cent , to 38,150.30, the S&P 500 lost 79.32 points, or 1.61 per cent, to 4,845.65 and the Nasdaq Composite lost 345.88 points, or 2.23 per cent, to 15,164.01.

The yield on the 10-year Treasury fell to 3.88 per cent from 3.92 per cent late Wednesday.

In Europe, markets mostly fell following the selloff on Wall Street on Wednesday. The European benchmark Stoxx 600 lost 0.1 per cent.

In Asia, most stock markets fell on Thursday. Hong Kong’s Hang Seng index rose 0.5 per cent at 15,566.21. China's Shanghai Composite fell 0.6 per cent at 2,770.74.

Japan’s Nikkei 225 edged down 0.8 per cent at 36,011.46.

Oil prices edged higher, boosted by the Federal Reserve signalling a possible start to interest rate cuts.

Brent crude futures were up 75 cents at $81.30 a barrel at 1433 GMT. US West Texas Intermediate crude futures were up 84 cents to $76.69.

Gold prices fell, weighed by a stronger US dollar.

Spot gold slipped 0.2 per cent at $2,033.09 per ounce by 1250 GMT. US gold futures fell 0.8 per cent to $2,050.00.