Stock Market Futures Surge, Dow Jones and S&P 500 Approach Record Highs

US stock futures rose, with the Dow Jones eyeing a third-straight record high, as the prospect of deeper and earlier interest-rate cuts continued to buoy spirits. The Federal Reserve's surprise shift in tone to dovish this week, signaling more rate cuts in 2024, has helped drive a record-setting rally in US stocks. However, some caution that markets could be getting ahead of themselves, and central banks in Europe discouraged hopes for an easing of policy. Additionally, the expiration of $5 trillion in US stock options, 80% in S&P 500-linked contracts, could limit any potential pullback.