Futures contracts tied to the tech-heavy Nasdaq 100 index extended their gains to as much as 1.1%, climbing to their highest point of the session.

This upward momentum followed the Federal Reserve's policy outlook, which eased investor concerns and bolstered confidence that the central bank remains committed to its ongoing fight against inflation.

As a result, bond yields retreated, with the 10-year Treasury yield slipping to just below the 5% threshold, while S&P 500 futures also advanced by 0.8%.

The market's positive reaction underscores a collective sigh of relief among traders, who now see a clearer path forward for monetary policy without immediate risk of more aggressive tightening.