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

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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Stock market today: Nasdaq rises, Dow slumps in bumpy trading day as GameStop ralliesUS stocks are looking to build on their strong performance in May as hopes for rate cuts revive and the meme stock mania roars back.
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