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Stock market today: Nasdaq pops as investors shrug off Fed, Tesla rallies ahead of Elon Musk pay decision

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Federal Reserve News

Dow Jones Industrial Average Futures,US Stock Futures,Consumer Inflation

Investors are continuing to weigh signs of cooling inflation and a hawkish shift in the Fed's view on rate cuts.

US stock futures traded mixed on Thursday, with the S&P 500 holding near its record high as investors weighed the two-way pull of) popped 0.6% on the heels of taking out a record of its own, as tech stocks led the broader charge higher. But Dow Jones Industrial Average futures shares lifted the spirits of a market looking to AI and techs to fuel a rally. The chipmaker, a key supplier to Apple -- The GameStop Corp.

The Canadian dollar gave back some earlier gains against its U.S. counterpart on Wednesday as the Federal Reserve signaled a reduced number of interest rate cuts this year despite evidence of cooling inflation. The Fed held rates steady, as expected, with officials projecting only a single quarter-percentage-point reduction for the year compared to three previously.

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