Fed's Decision and Inflation Data Impact US Stock Market.

US stock futures were flat after the Federal Reserve decided to skip a rate hike but indicated that two more rate hikes may still be in store later this year. The S&P 500 and Nasdaq Composite reached their highest levels since April 2022. The Fed Chair said that a decision on July's policy move has not yet been made. Additional economic data releases on Thursday will give investors and policymakers better insight on the strength of the labor market and consumer spending. Meanwhile, Lennar and Autozone saw their shares rise during after-hours trading, and Mediterranean fast-casual restaurant chain Cava priced its IPO above the stated range.