The S&P 500 had already been climbing as investors grew more confident that the Federal Reserve would cut interest rates by half a percentage point. Thursday's gain put the index in range of a closing record.
Federal Reserve cuts rates by half a point and signals era of easing has begun Financial TimesKey takeaways from the Fed's decision to deliver a jumbo-sized interest rate cut CNNWhy the Federal Reserve opted for the big interest rate cut Financial TimesFed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years CNBC