Wall Street Rises as Fed Governor Downplays Rate Hikes

U.S. stock index futures steadied on Thursday evening after a strong session on Wall Street that saw major indexes climb more than 1%. The market surge followed comments from Christopher Waller, a Governor of the Federal Reserve, who cited signs of disinflation and downplayed expectations for imminent interest rate hikes.

These remarks led traders to reduce the probability of a September rate hike from 60.1% to 50.4%. Federal Reserve Chair Kevin Warsh further supported this sentiment by reiterating the central bank's commitment to reducing price pressures. Investors are now focused on nonfarm payrolls data due Friday morning to assess labor market resilience and future rate trajectories.

In corporate developments, Lululemon Athletica Inc shares fell 18% after the retailer lowered its annual guidance. Meanwhile, Adobe Systems Incorporated announced a leadership transition, naming Anil Chakravarthy as the incoming President and CEO, effective in December.