Stock index futures advanced on Thursday as investors awaited a few speeches from the Federal Reserve members. S&P 500 futures (SPX) +0.4%, Nasdaq 100 futures (US100:IND) +0.6% and Dow futures (INDU) +0.

During an appearance in Rhode Island on Tuesday, Federal Reserve Chair Jerome Powell appeared to cause a stir in the equity market when he said that stocks were “fairly highly valued.”

US indices climbed after Fed minutes signaled more cuts. Traders bet on a dovish Fed as tech stocks like Nvidia lifted Nasdaq and S&P500 higher.

Did Fed Chair Jerome Powell Drive a Dagger Through the Stock Market's Heart With These 6 Words? Historical Data Backs Up His Claim. The S&P 500 has recorded 32 new all-time highs this year, with the Dow Jones Industrial Average and Nasdaq Composite also powering to multiple record closes.

Within minutes, the words “highly valued” were pinging through the financial world. The words’ importance was a bit fuzzy. Maybe the Fed would somehow engineer the markets downward, or, with its vast data, it might foresee a market decline.

Investors have been clamoring for lower rates, but some commentators in the market think that a Fed cut won't boost stocks or the economy as expected.

Nvidia’s AI boost lifts Nasdaq and S&P500, while traders eye Fed minutes and government shutdown risks weighing on US stock market sentiment today.

Companies are under pressure to deliver strong profits after their stock prices broadly surged 35% from a low in April. To justify those gains, which critics say made their stock prices too expensive, companies will need to show they’re making much more in profit and will continue to do so.

December S&P 500 E-Mini futures (ESZ25) are up +0.36%, and December Nasdaq 100 E-Mini futures (NQZ25) are up +0.55% this morning, pointing to a higher open on Wall Street as investors wager that a resilient economy and further rate cuts from the Federal Reserve will continue to underpin corporate earnings.