Stock market today: Asian shares are mixed after Nasdaq sets a record ahead of Fed meeting

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Shares are mixed in Asia after the Nasdaq set a record ahead of a meeting by the Federal Reserve later this week that could set the direction for markets in the new year.

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The New York Stock Exchange is shown behind the statue titled"Fearless Girl", Thursday, Dec. 12, 2024, in New York. A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Monday, Dec. 16, 2024, in Tokyo. Group Corp., whose CEO Masayoshi Son joined President-elect Donald Trump in announcing plans Monday by the Japanese technology and telecoms giant to invest $100 billion in U.S. projects over the next four years.

Australia's S&P/ASX 200 gained 0.8% to 8,314.10, while the Taiex in Taiwan was up 0.2%. In Bangkok, the SET edged 0.2% lower.The S&P 500 rose 0.4% to 6,074.08 and the Nasdaq composite climbed 1.2% to a record close of 20,173.89. The Dow Jones Industrial Average lagged, giving up 0.3% to 43,717.48. The question is how much more it will cut rates next year, and Fed officials will release projections for where they see the federal funds rate ending 2025, along with other economic indicators, once their meeting concludes. Fed Chair Jerome Powell will also answer questions in a press conference following the meeting.

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