07:13 AM EDT, 09/19/2024 (MT Newswires) -- Wall Street futures pointed solidly higher pre-bell Thursday, as traders digested the Federal Reserve's 0.50% rate cut announcement on Wednesday and weighed global equity rallies in Asia and Europe.

The central bank also penciled in future rate reductions and projected tempered growth for the US economy, in outlooks that accompanied Chair Jerome Powell's press conference.

In the futures, the S&P 500 rose 1.7%, the Nasdaq inclined 2.1% and the Dow Jones was up 1.2%.

Asian exchanges traded firmly higher overnight, with fresh record-highs set in Mumbai and Sydney. European bourses also tracked north midday on the continent.

Darden Restaurants (DRI) and FactSet Research Systems (FDS) reported earnings pre-bell, among others. Economy bellwether Fedex (FDX) reports after-bell.

On the economic calendar is the weekly jobless claims bulletin at 8:30 am ET, along with the Philadelphia Fed Manufacturing Index for September and the Q2 current international trade account report.

The August existing home sales bulletin and August leading indicators report post at 10 am.

The weekly EIA natural gas report posts at 10:30 am.

In premarket action, Bitcoin traded at $62,410, West Texas Intermediate crude oil traded higher at $70.45, and 10-year US Treasuries offered 3.71%. Spot gold traded for $2,587 an ounce.