World markets resumed their climb on Thursday after the Fed signaled it was in no rush to taper stimulus and reassurances from Beijing saw beaten-up Chinese stocks soar. U.S. equity-index futures gained slightly recovering earlier losses, except for Nasdaq 100 contracts, after mostly positive earnings, China’s efforts to soothe market nerves and the Federal Reserve’s reassurance that there’s some way to go before curbing stimulus. At 715 am Emini S&P futures were up 3.5 points ot 0.08% to 4,397.50, Dow futures rose 149 points or 0.422% while Nasdaq futures were down 23 points or 0.16%.
“Investors cheered positive news from both the U.S. and China after the Fed delayed tapering talks and reiterated the transitory effect of inflation while Beijing took reassuring measures to stop the market rout and ease concerns toward big Chinese companies,” said Pierre Veyret, technical analyst at ActivTrades.
In notable premarket moves, the highlight was the rollercoaster in Didi shares which surged as much as 49% on a WSJ report the company was seeking to go private, only to slide right back down after Reuters reported that the company denied the report. Elsewhere, Facebook shares fell 3.5% in premarket trading after the social-media giant struck a cautious tone in its outlook, warning of headwinds resulting from new ad-targeting rules from Apple. Uber dropped 4.4% after a report that SoftBank, the biggest investor in the ride-haling service, is selling $2.1 billion of its holdings in a block trade through Goldman Sachs.