Wall Street is pointing toward losses early Thursday after the third consecutive interest rate cut this year sent markets close to record highs, and hints from the Federal Reserve that it may be open to more cuts next year.

Futures for the S&P 500 fell 0.2% while futures for the Dow Jones Industrial Average were unchanged. Nasdaq futures fell 0.4% as AI-related companies were dragged down by concerns about Oracle's cash flow.

Investors took heart from comments by Fed Chair Jerome Powell, which were perceived as more open to rate cuts than they had been anticipating.

Powell said again on Wednesday that the central bank is in a difficult spot because the job market is slowing while inflation is facing upward pressure. By trying to fix one of those problems with interest rates, the Fed c

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