The S&P 500 soared 1.7% on Thursday, Sept. 19, notching a record closing high a day after the Fed opted for an aggressive interest-rate cut.

Before Wednesday’s cut, US rates had been at their highest since 2001 as the Fed sought to bring down inflation from the biggest surge in a generation. But with consumer price inflation now at 2.5 per cent, close to the Fed’s 2 per cent target, the central bank has signalled more reductions to come.

The S&P 500 will remain in focus on Thursday after the index closed slightly lower following the Federal Reserve’s decision to slash its benchmark rate by 50 basis points. Since

The S&P 500 index achieved intra-day record highs after the Federal Reserve slashed interest rates by 50 basis points and signaled further cuts. Major stocks such as Tesla, Apple, and Meta Platforms saw significant gains.

Stocks jumped Thursday as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut. The Dow rose 633 points, or 1.5%, on Thursday afternoon to pass 42,000. The S&P 500 gained 2%,

Indexes rose Thursday as investors digested Wednesday's jumbo rate cut from the Fed and a fall in weekly jobless claims.