Stock Market Update

The stock market is on track for a mixed open this morning as tech names lag while the broader market continues to trend mostly higher in the wake of Wednesday's FOMC meeting. 

Chicago Fed President Austan Goolsbee, who dissented against Wednesday's rate cut in favor of keeping the Fed funds rate unchanged, told CNBC that he is optimistic Fed funds rates will be lower in 2026.

Mr. Goolsbee felt uncomfortable frontloading too many rate cuts but noted his "dot" is more dovish than the median for 2026, though he will not be a voting member next year.