Markets took a breather on Friday, with stock futures little changed in premarket trading after rallying to record highs yesterday on the Fed's supersized rate cut earlier in the week.

U.S. stocks were higher after the close on Thursday, as gains in the Technology, Industrials and Basic Materials sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average rose 1.

The Dow Jones Industrial Average (DJIA) has pulled into Wednesday’s midrange near 41,500 as investors await the Federal Reserve's (Fed) first rate cut in over four years. Markets kicked off 2024 hoping for an initial rate cut in March, but have thus far been battled all the way back to Q3. Now it finally looks like the Fed is ready to play ball.