US STOCKS-Futures power higher on Fed effect

US STOCKS-Futures power higher on Fed effect
US STOCKS-Futures power higher on Fed effect

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* Futures up: Dow 0.79%, S&P 0.83%, Nasdaq 1.22%

By Shreyashi Sanyal

June 20 (Reuters) - U.S. stock index futures jumped on Thursday after the Federal Reserve indicated that it was ready to cut interest rates as soon as next month to counter growing risks to global and domestic growth.

The central bank left interest rates unchanged at the end of its June policy meeting on Wednesday, but pledged to "act as appropriate" to sustain economic health.

The S&P 500 and the Dow Jones Industrial Average added to gains and are just 0.6% away from their record high closes set in late April, but the more-than-expected dovish Fed led to U.S. treasury bond yields tumbling.

At 7:20 a.m. ET, Dow e-minis were up 210 points, or 0.79%. S&P 500 e-minis were up 24.25 points, or 0.83%, and Nasdaq 100 e-minis were up 94 points, or 1.22%.

Top Chinese and U.S. officials will resume trade talks in accordance with the wishes of their leaders, but China hopes the United States will create the necessary conditions for dialogue, the Chinese commerce ministry said on Thursday.

Among stocks, Apple Inc rose 1.2% in premarket trading after Evercore ISI raised its price target on the iPhone maker, saying investors are underappreciating a large growth opportunity.

Boeing Co gained 1.4% after the planemaker said it is in talks with other airlines for sales of its 737 MAX after receiving a letter of intent for 200 of the grounded planes from British Airways owner IAG.

Oracle Corp jumped 6.1% after the business software maker forecast current-quarter profit above estimates as it benefited from demand for its on-premise IT, cloud services and license support businesses.

Cruise operator Carnival Corp slid 7.2% after cutting its profit forecast for the year on the Trump administration's sudden ban on cruises to Cuba and expected lower ticket prices in the coming months.

Rivals Royal Caribbean Cruises Ltd and Norwegian Cruise Line Holdings Ltd also fell. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila)

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