Stock market today: S&P 500, Nasdaq futures climb as Miran confirmed at Fed

Market Overview - S&P and Nasdaq futures increased following the Senate's confirmation of Stephen Miran as a Federal Reserve board governor, coinciding with a record-setting day on Wall Street [1][2] - The Dow Jones Industrial Average futures remained mostly flat, while the S&P 500 rose by 0.2% and the Nasdaq 100 increased by 0.3% [1] Federal Reserve and Interest Rates - The Senate confirmed Stephen Miran in a narrow 48-47 vote, positioning him to influence interest rate decisions during the upcoming Federal Reserve policy meeting [2] - Miran's intention to take a leave of absence from his White House advisor role has raised concerns regarding the independence of the Federal Reserve, especially amid President Trump's efforts to dismiss Fed governor Lisa Cook [3] Stock Market Performance - On Monday, stocks rose, leading the S&P 500 and Nasdaq Composite to achieve new record highs, driven by ongoing US-China trade talks and expectations of a Federal Reserve rate cut [4] - Tesla's stock increased by 2% in premarket trading after CEO Elon Musk purchased shares for the first time since 2020, contributing to the stock's recovery from year-to-date losses [5] Economic Indicators - Investors are anticipating the latest retail sales figures, which will provide insights into consumer behavior amid persistent inflation and a fluctuating labor market [4] - There is a strong market expectation for a 25 basis-point rate cut by the Federal Reserve, with a 96% probability assigned to this outcome [5]