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While Fed officials held rates steady, they cut their forecasts for economic growth and lifted estimates for inflation in 2025.

Cantor analysts said their bullishness on Tesla crystallized after they visited the company's Gigafactory and AI data centers in Austin, Texas.

NEW YORK (Reuters) -U.S. stocks extended their rally and the dollar strengthened as solid data helped investors look past notes of caution from world central bank leaders regarding mounting economic uncertainties and U.S. President Donald Trump's erratic tariff policies. U.S. data showed jobless claims holding steady and an unexpected increase in existing home sales, which helped calm fears that the economy is softening, despite the U.S. Federal Reserve's lowered economic projections released on Wednesday. Straight on the heels of the Fed's decision to hold rates steady, the Bank of England (BoE) followed suit, holding its key interest rate steady while cautioning against assumptions it would cut rates in the near future as it grapples with economic uncertainties.

U.S. President Donald Trump on Wednesday said the Federal Reserve would be better off cutting rates "as U.S. tariffs start to transition (ease! their way into the economy", on the day the central bank kept rates unchanged. The Trump administration's initial policies, including extensive import tariffs, appear to have tilted the U.S. economy towards slower growth and at least temporarily higher inflation, Federal Reserve Chair Jerome Powell said earlier.

SINGAPORE (Reuters) -The dollar steadied near five-month lows on Thursday after the Federal Reserve indicated rate cuts were likely later this year despite uncertainties around U.S. tariffs, while the pound hit a four-month high ahead of the Bank of England's policy decision. U.S. policymakers projected two quarter-point interest rate cuts were likely later this year, the same median forecast as three months ago, even as they expect slower economic growth and higher inflation. On Wednesday, the Fed held its benchmark overnight rate steady in the 4.25%-4.50% range.

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Jeff LaBerge, Head of Capital Markets at Bitdeer, says Bitcoin's increasing institutional adoption has made it behave more like a traditional risk asset.