US stock futures surge after Dow closed higher for fifth day

• Nasdaq futures advance 0.48 %
  
• Dow Jones futures tick up 0.11%

US stock futures went up early Friday after the Dow closed higher for the fifth day in a row on Thursday, the longest winning streak in the last two months.

Dow Jones Industrial Average futures increased 0.11 %. The S&P 500 futures ticked up 0.31% and the Nasdaq futures climbed 0.48 %.

During the regular trading on Thursday, The Dow Jones Industrial Average jumped 516.91 points, or 1.6%, to end at 32,637.19. S&P 500 gained 79.11 points, or 2%, closing at 4,057.84. The Nasdaq Composite rose 305.91 points, or 2.7% finishing at 11,75.

According to minutes from the Federal Reserve's May meeting, policymakers emphasized the need to raise interest rates faster and more harshly than markets expect to keep inflation under control.

The US Federal Reserve boosted the short-term interest rate by half a percentage point, or 50 basis points, last week, and announced plans to reduce its $9 trillion asset portfolio.

A plethora of statistics, including personal income, consumer spending, and core personal consumption expenditures, is due to be released on Friday.

Picture Credits: Reuters 

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