Nasdaq Leads Futures Higher as Fed Signals More Cuts Ahead

​Futures Jump on Fed Signal
U.S. stock futures surged Thursday after the Fed not only cut rates for the first time this year but also signaled more cuts are coming. The Dow gained 0.7%, the S&P 500 climbed 0.9%, and the Nasdaq 100 led with a 1% jump.

Records Back in Sight
The rally put Wall Street on track for new record highs. The S&P 500 looks set to crack 6,700, after topping 6,600 earlier in the week. Traders are betting the easing cycle will give stocks another leg higher.

Powell’s Balancing Act
Fed Chair Jerome Powell acknowledged the risks, saying “there’s no risk-free path” with inflation still elevated and the labor market weakening. The Fed’s dot plot projects two more cuts before year-end, though Powell warned it won’t be a smooth ride.

Job Market Watch
Investors will get fresh insight into the jobs picture with weekly jobless claims due Thursday. Recent signs of a cooling labor market were key in persuading the Fed to make Wednesday’s quarter-point cut.

Corporate Spotlight: FedEx
On the earnings front, FedEx reports after the bell. Analysts expect Trump’s move to end tariff exemptions on low-value imports from China and Hong Kong will squeeze profits, since those shipments account for about three-quarters of sub-$800 duty-free packages each year.

Global Moves and Politics
Elsewhere, Trump’s UK state visit has him talking trade and AI investment with leaders and executives, including Microsoft and Nvidia. Meanwhile, energy markets stayed cautious, with oil prices holding near $68 Brent and $64 WTI.

The Bottom Line
​The Fed gave Wall Street what it wanted — not just a cut, but a promise of more. With tech leading the charge and traders eyeing records, the focus now shifts to whether Powell can stick the landing as jobs soften and politics complicate the path ahead.