Wall Street Soars After Federal Reserve Rate Cut

Wall Street's major indexes surged on Thursday, with the S&P 500 hitting a record high. This surge followed the Federal Reserve's action to cut interest rates by half a percentage point, signaling additional cuts in the future.

Wall Street's major indexes experienced significant gains at the opening bell on Thursday, with the S&P 500 achieving an intraday record high. This uptick came after the Federal Reserve initiated its easing cycle, implementing a half-a-percentage point reduction in interest rates and signaling the possibility of more cuts down the line.

The Dow Jones Industrial Average jumped by 469.5 points, or 1.13%, to open at 41972.56. Concurrently, the S&P 500 rose by 84.4 points, or 1.50%, reaching 5702.63. Meanwhile, the Nasdaq Composite saw a rise of 407.6 points, or 2.32%, to 17980.891 at the opening bell.

(With inputs from agencies.)