U.S. stock futures hovered near the flatline Thursday night after the S&P 500 and Nasdaq Composite hit records in a postelection rally and investors weighed the Federal Reserve’s latest interest rate cut.

S&P 500 futures and futures tied to the Dow Jones Industrial Average each added less than 0.1%. Nasdaq 100 futures were little changed.

During Thursday’s trading session, the broad market index gained 0.7% to close at a new record. The tech-heavy Nasdaq jumped 1.5% and ended the session above 19,000 for the first time. Meanwhile, the 30-stock Dow was marginally lower. The three major averages all hit intraday record highs during the session.

The moves higher continue the market rally from Wednesday in the wake of President-elect Donald Trump’s victory, during which the Dow and S&P 500 rose to their best days since November 2022.

Meanwhile, the Fed lowered interest rates by a quarter point, in-line with the market’s expectations. Fed Chair Jerome Powell noted he is “feeling good” about the economy during a press conference.

However, “the path of Fed cuts is cloudier today than it was a week ago before the election,” said Scott Helfstein, head of investment strategy at Global X ETFs.

Investors generally view a Republican-controlled government as more favorable on expectations for deregulation, the potential for more mergers and acquisitions and proposed tax cuts. However, concerns over the large federal deficit and increased tariffs have also sparked concerns of an uptick in inflation.

“The market is signaling that a Trump administration would be good for growth and risk assets, but the combination of faster growth with new tariffs would be inflationary,” he added. “While the Fed feels the risks are balanced between stable prices and maximum employment, this could shift quickly increasing the risk to reaccelerating inflation.”

The postelection surge put all three of the major averages are on pace for strong weekly gains, with the S&P 500 up about 4.3% and the Dow higher by nearly 4%. Both indexes are on track for their best week since November 2023. The Nasdaq is the outperformer of the three, toting a 5.6% advance through Thursday’s close.

U.S. homeowners are sitting on a record amount of equity, but higher interest rates over the past two years have made them reluctant to tap into it. That is finally starting to change.

In the third quarter of this year, mortgage holders withdrew $48 billion of home equity, according to ICE Mortgage Technology — the largest volume in the two years since the Federal Reserve started hiking its benchmark interest rate. While mortgage rates don’t exactly follow the Fed’s rate, home equity lines of credit, or HELOCs, are tied to it. The Fed cut its rate by a half percentage point in mid-September.

Despite the bump, homeowners are still being pretty cautious.

They are sitting on a little over $17 trillion in total equity collectively. Roughly $11 trillion of that is tappable, meaning homeowners could borrow on it as long as 20% equity would remain in the home, as most lenders require. The average homeowner now has $319,000 of equity in their home, of which $207,000 is tappable.

In the third quarter, homeowners withdrew just 0.42% of all tappable equity, less than half the rate seen in the decade leading up to the Fed hikes.

“Over the past 10 quarters homeowners have extracted $476B in equity, exactly half the extraction we’d expect to see under more normal circumstances. That equates to nearly a half a trillion untapped dollars that hasn’t flowed back through the broader economy,” said Andy Walden, ICE vice president of research and analysis, in a release.

Homeowners tend to use equity for home repairs, renovation projects and large expenses, such as college tuition.

Walden ran the numbers for the change in costs over the past two years: The monthly payment needed to take out $50,000 in a HELOC more than doubled from as low as $167 in March 2022 to $413 in January of this year. The latest rate cut reduced that slightly.

“The market’s currently pricing in another 1.5 percentage points of cuts through the end of next year. If that comes to fruition, and current spreads hold, it’ll have positive implications for both new equity lending as well as for consumers with existing HELOCs, with the payment on a $50,000 withdrawal falling back down below $300 per month,” Walden calculated.

That cost is still above the 20-year average, but it represents a more than 25% reduction from recent highs, according to the calculations.

“Given borrowers’ recent sensitivity to even slight rate drops, this could serve to entice additional HELOC utilization, especially with mortgage holders sitting on record stockpiles of equity and locked into their current home values via low first lien rates,” Walden added.

Home equity growth has been moderating recently, as home prices ease. More supply is coming on the market, and primary mortgage rates are higher than they were over the summer. That gives sellers less pricing power.

Asia-Pacific markets slipped on Tuesday, trailing a mixed session on Wall Street.

Investors saw a light day in terms of economic data out of Asian countries. Meanwhile, Hyundai Motor India made its trading debut after a record IPO.

Shares were trading down at 1,860 rupees from their initial public offering price of 1,960 rupees, according to BSE data. The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees. The IPO fetched 278.56 billion rupees, or $3.3 billion.

Australia’s S&P/ASX 200 was down 1.66% to close at 8,205.7, its lowest level in almost 2 weeks, while South Korea’s Kospi slipped 1.28% and its small cap Kosdaq lost 2.68%.

Japan’s benchmark Nikkei 225 fell 1.39% to 38,411.96, while the broad based Topix was trading down 1.06% at 2,651.47.

Hong Kong’s Hang Seng index was close to the flatline, while the mainland Chinese CSI 300 inched down 0.21%.

During the U.S. trading session, two Federal Reserve officials had spoken about the trajectory of interest rates.

Minneapolis Fed President Neel Kashkari, noting the U.S.’ resilient economy and strong labor market, said the longer term trajectory for interest rates could be higher than it has in the past.

Dallas Federal Reserve President Lorie Logan said she supports the current move to lowering interest rates, but that a patient approach will be needed.

Overnight in the U.S., stocks ended mixed as Treasury yields rose and investors awaited new earnings reports.

The S&P 500 slipped 0.18% and the 30-stock Dow lost 0.8%, and snapped a three-day run of winning sessions. The Nasdaq Composite was the outlier, rising 0.27%.

— CNBC’s Pia Singh and Sarah Min contributed to this report.

SINGAPORE — Chinese markets skyrocketed over 10% at the open Tuesday, after coming back from the Golden Week holiday as the rally from Beijing’s stimulus measures continued.

The CSI 300 index was up 10.2% in early deals, before paring some gains to record a rise of about 7.5%, but Hong Kong’s Hang Seng index plummeted over 6%.

Other Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan.

Household spending in Japan fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists.

The drop is the fastest pace of decline since January, which saw a 6.3% fall year-on-year. That decline also came before spring wage negotiations delivered the largest pay hikes to unionized Japanese workers in 33 years.

However, real wages rose in August, with data from the country’s statistics bureau indicating that wages climbed 2% to an average of 574,334 yen ($3,877.44).

Overnight in the U.S., stocks slid as rising oil prices and higher Treasury yields weighed on market sentiment.

The Dow Jones Industrial Average dropped 0.94%, while the S&P 500 slid 0.96%. The Nasdaq Composite  saw the largest loss, falling 1.18%.

The benchmark 10-year Treasury yield rose to 4.02%, marking the first time since August that the yield topped 4%.

Oil prices also rose as tensions in the Middle East remain high. U.S. crude climbed more than 3% to settle above $77 per barrel.

— CNBC’s Lisa Kailai Han and Jesse Pound contributed to this report.