Closing value of the S&P 500 as reported by major financial news outlets like Bloomberg or Reuters

Wall Street, S&P 500, Dow Hit Record Highs After Fed's 50 Basis-Point Rate Cut

Sep 19, 2024, 10:10 PM

Wall Street reached all-time highs following a significant interest rate cut by the Federal Reserve. The S&P 500 closed at a record high after the Fed cut US interest rates by 50 basis points. This substantial rate cut has invigorated a market rally, with several major stock indexes, including the Dow, surging to record highs. The Federal Reserve has also indicated that more rate cuts could be on the horizon. The S&P 500 was on course to notch a record on Thursday, driven by euphoria over the rate cut.