Dow Jones Futures Rise After Warsh's Fed Hit Stocks; SpaceX Falls As Robinhood Jumps

U.S. stock futures rose early Thursday as traders tried to recover from Wednesday's selloff, which followed a hawkish Federal Reserve message from Chair Kevin Warsh.

Dow Jones futures were up 0.2% in early trading on June 18, 2026. S&P 500 futures added 0.7% and Nasdaq-100 futures climbed 1.3%, according to early market coverage. The bounce came after a session that pushed stocks lower and lifted bond yields.

Fed stance and yields

The prior day's decline centered on the Fed's policy meeting and Warsh's first post-meeting press conference. Coverage said Warsh emphasized price stability and a more hawkish policy stance, prompting traders to reassess the odds of easier policy later this year.

Some market reports said several policymakers favored a rate hike later in 2026. Treasury yields rose after the meeting, with one report saying the two-year yield moved to its highest level since February 2025.

That matters most for growth stocks and other higher-valuation names, which are more sensitive to changes in discount rates. The move helped explain why Thursday's futures rebound was being watched closely rather than treated as a clean reset.

Company movers on the tape

Individual stocks were also driving attention before the open. SpaceX fell about 5% on Wednesday, described as its first decline since going public. The move added pressure to a name that had been watched closely after a hot debut.

Robinhood moved in the opposite direction, rising 8.8% on Wednesday and climbing back above its 200-day moving average. The company also disclosed in an SEC filing that it was cutting about 10% of its workforce, or roughly 290 jobs.

Robinhood said the restructuring came from a position of business strength. The filing cited record June month-to-date average daily trading volumes across equities, options and prediction markets, while outside reporting framed the layoffs as part of an effort to flatten the organization and maintain a high-performance culture.

Intel shares also rose after President Donald Trump said Apple had agreed to work with Intel to design and make semiconductors domestically. That gave traders a separate policy and supply-chain catalyst to weigh alongside the Fed-driven move in rates.

What traders are watching

The immediate question is whether Thursday's futures gains hold into the U.S. cash open and whether the market keeps repricing expectations around rates. If yields stay elevated, pressure could persist on the large-cap growth names that tend to move most on changes in monetary policy.

Traders are also watching for any further Fed commentary after Warsh's first post-meeting appearance. A sustained hawkish shift would likely keep the focus on inflation, price stability and the path of borrowing costs.

For Robinhood, the next issue is whether the company gives more detail on the affected roles or the expected restructuring charge in future filings. For Intel and Apple, the next checkpoint is whether either company confirms the domestic chip-production claim.

The broader setup leaves the market balancing macro policy, yields and a handful of company-specific headlines at the same time. That combination has made the early-session tape unusually sensitive to any new data point that changes expectations for rates, earnings or technology supply chains.