An expected Fed rate hike on Wednesday offered some relief to stock investors that the central bank was working to contain inflation.

Tech stocks rebound as yields slip below 5% and oil falls, but the Fed’s rate hike leaves the Nasdaq and S&P 500 rally on a short leash.

US stock index futures pointed to a sharply higher opening on Thursday as crude oil prices and Treasury yields retreated, following a late-session sell-off on Wall Street after the Federal Reserve’s latest interest-rate increase. The anticipated rebound follows a difficult Wednesday session in which the Dow Jones Industrial Average closed at a three-month low and the S&P 500 recorded its lowest closing level in more than a month.

Nike (NYSE:NKE) faces renewed scrutiny over its position in the Dow Jones Industrial Average following confirmation that it will be removed from the S&P 100 later this month. S&P Dow Jones Indices announced that Nike will leave the S&P 100 before trading begins on 21 September 2026 as part of its quarterly rebalancing, ending an 18-year period in the index.

The S&P 500 and Nasdaq could regain their 50-day lines.

Nike’s grip on its spot in the Dow Jones Industrial Average is looking increasingly tenuous as the struggling sportswear giant braces for an exit from another Wall Street benchmark.

US stock futures advanced on Thursday as investors assessed the Federal Reserve’s latest interest-rate increase, the prospect of further monetary tightening and developments affecting global energy supplies. At 06:59 GMT, Dow Jones futures were up 366 points, or 0.