"Stock market rallies as Fed hints at rate cuts, Dow hits record high"

U.S. stock futures rose after the Federal Reserve signaled multiple rate cuts in 2024, with the Dow Jones Industrial Average closing at a record high. The Dow added 90 points, or 0.2%, while S&P 500 and Nasdaq 100 futures gained 0.3% and 0.4% respectively. The Fed's decision to keep interest rates unchanged and its indication of three rate cuts next year boosted market sentiment. In regular trading, the Dow jumped 1.4% to close above 37,000 for the first time, while the S&P 500 and Nasdaq Composite also reached new highs. The central bank's commentary suggests a soft landing and justifies the recent market rally. Adobe shares declined over 4% in extended trading due to muted guidance for 2024 earnings and revenue. The Invesco Solar ETF (TAN) surged nearly 5.6% as the Fed's rate cut outlook benefited solar stocks. The Dow, S&P 500, and Nasdaq Composite are on track for their seventh consecutive positive week.