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 .DJI
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 1YMc1 were up 210 points, or
0.79%. S&P 500 e-minis ESc1 were up 24.25 points, or 0.83%,
and Nasdaq 100 e-minis NQc1 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 AAPL.O 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 BA.N 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 ICAG.L . Oracle Corp ORCL.N 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 CCL.N 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 RCL.N and Norwegian
Cruise Line Holdings Ltd NCLH.N also fell.