"Stocks Soar as Fed Signals Three Rate Cuts Ahead: Live Updates"

S&P 500 futures rose after major averages closed at new records, with the Dow Jones Industrial Average adding 126 points and the Nasdaq 100 futures increasing by 0.67%. Semiconductor stock Micron Technology jumped more than 16% in extended trading, while discount retailer Five Below slipped more than 12%. Gold prices hit a new record, and Japan's Nikkei 225 index hit a new record high. New Zealand unexpectedly slipped into a technical recession, and Fundstrat’s Tom Lee sees Russell 2000 rising 50% in 2024. Reddit priced its IPO at $34 per share, and corporate buybacks of stock are surging, according to Bank of America.