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

Wall Street Hits Record Highs After 50 Basis-Point Fed Rate Cut

Sep 19, 2024, 10:10 PM

Wall Street hit all-time highs following a significant interest rate cut by the Federal Reserve. The S&P 500 closed at a record high, buoyed by a 50 basis-point reduction in interest rates. The Federal Reserve's decision has invigorated market rallies, with several major stock indexes, including the Dow, reaching record levels. The rate cut has also led to speculation about further reductions in the future. The euphoria over the rate cut was particularly evident on Thursday.