5 Things to Know Before the Stock Market Opens on Thursday

U.S. stock futures pointed higher Thursday morning as investors looked to recover from a steep selloff tied to the Federal Reserve’s latest message. The trading week is also shortened by the Juneteenth holiday, leaving Thursday as the final session before the break.

The move comes after the Fed kept interest rates steady but signaled the possibility of a rate hike later this year. That hawkish tone helped push stocks lower in the prior session and lifted Treasury yields, keeping rate expectations at the center of the market conversation.

1. Futures point higher after the Fed selloff

Before the open, S&P 500 futures were up 0.8%, Dow futures rose 0.4% and Nasdaq-100 futures gained 1.4%, according to the market preview.

The gains suggested traders were trying to stabilize after Wednesday’s pressure, but the broader backdrop remained tied to what the Fed may do next.

2. The Fed remains the main macro driver

The central bank’s decision to hold rates steady was not the issue for markets. The concern was the signal that another hike could still be possible later in the year.

That shift in tone matters because it affects borrowing costs, equity valuations and expectations for how quickly inflation will ease.

3. Gas prices slipped below $4 a gallon

The U.S. national average gasoline price fell to $3.999 a gallon, according to AAA, marking a symbolic drop below the $4 level.

That matters for consumers heading into a holiday-shortened trading week because fuel costs influence household spending power and perceptions of inflation.

4. Apple warned of coming price increases

Apple CEO Tim Cook said the company will raise prices because memory-chip costs have surged and have become unsustainable.

Cook did not say which products would be affected or when the changes would take effect, but the warning adds another cost-pressure story for investors to watch.

5. SpaceX posted its first full-day decline

SpaceX fell about 5% in Wednesday trading, which marked the company’s first full-day stock decline since it went public.

Even after that move, the stock remained above its IPO price. The decline is notable mainly because it tests whether the post-listing rally can keep holding.

Investors will now watch whether the early futures gains hold into the opening bell, whether more Fed commentary reinforces the hawkish shift, and whether Apple provides more detail on the timing of any price increases. SpaceX will also be monitored to see whether Wednesday’s slide proves to be a one-day pause or the start of a wider reset.