Stock Market Today: S&P 500, Dow, Nasdaq 100 Futures Jump After Sharp Sell-Off On Fed Rates Pause— Freecast, Smith & Wesson In Focus (UPDATED)

(Editor’s note: The headline, ETFs and economic data were updated.) U.S. stock futures rose on Thursday, as the Dow Jones, Nasdaq 100, and S&P 500 indices advanced, following Tuesday’s sharp sell-off. Weekly initial jobless claims edged down by 4,000 to a seasonally adjusted 226,000 for the week ending June 13, keeping layoffs historically low. Meanwhile, the Philadelphia Fed manufacturing index staged a major turnaround, jumping more than 10 points to a positive 10.3 reading in June to snap a month of flatlined regional factory growth. On Wednesday, the Federal Reserve unanimously held the federal funds rate steady at 3.50%-3.75% , as widely expected, in the first policy meeting under new Fed Chair Kevin Warsh . He announced five task forces to review Fed communications, the balance sheet, data sources, productivity and jobs in the AI era, and the inflation framework itself. Thursday will mark the last trading day of this week, as the markets will be closed for Juneteenth National Independence Day on Friday. Meanwhile, the 10-year Treasury bond yielded 4.45%, and the two-year bond was at 4.17%. The CME Group's FedWatch tool ‘s projections show markets pricing a 72.2% likelihood of the Federal Reserve leaving the current interest rates unchanged during July’s meeting. Index Performance (+/-) Dow Jones 0.52% S&P 500 0.86% Nasdaq 100 1.47% Russell 2000 1.05% The SPDR S&P 500 ETF Trust (NYSE: SPY ) and Invesco QQQ Trust ETF (NASDAQ: QQQ ) , which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Thursday. The SPY was up 0.63% at $745.64, while the QQQ advanced by 1.61% to $734.13. data-variant="card" data-news-mode="manual" > Read Also: NFLX Stock Trades At Its Cheapest Valuation In 4 Years: Shay Boloor Calls It Massive 'Opportunity' Stocks In Focus SpaceX Space Exploration Technologies Corp