US Stock Futures Trend Lower Following Fed Rate Increase of 75 Basis Points

Last Updated: Thursday, September 22, 2022 8:24 AM | MT Newswires

US stock futures were lower during Thursday's premarket session following Wednesday's interest rate increase of 75 basis points and ahead of the jobless report set to come out later this morning.

Jobless claims for the week ended Sept. 17 are expected at 217,000 in a Bloomberg survey of analysts, compared with 213,000 in the previous week. Claims have come down significantly from the summer's 250,000 trend.

The Dow Jones Industrial Average futures were down about 0.1%, S&P 500 futures were off 0.2%, and Nasdaq futures fell about 0.4%.

Oil prices are moving higher with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 1.1% and 1.2%, respectively.

Shares of Spero Therapeutics (SPRO) soared 145% in premarket activity after it said it has signed an exclusive license agreement with GSK (GSK) for tebipenem HBr, an oral antibiotic being developed by Spero to treat urinary tract infections. American Virtual Cloud Technologies (AVCT) shares were up 20% after gaining just over 1% Wednesday. HeartBeam (BEAT) shares surged 18% after falling 16% the previous session.

Tenon Medical (TNON) shares tumbled 19%, continuing downward from a 7.5% slide Wednesday. Shares of EZFill Holdings (EZFL) gained 11.7% after falling 8.2% in the previous session. Soluna Holdings (SLNH) fell nearly 11%, erasing Wednesday's 5.7% gain.

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