Wall Street’s gains came after rallies on markets across Europe and Asia after the Federal Reserve delivered the first cut to rates in more than four years.
NEW YORK — Wall Street is rising toward records as delayed jubilation sweeps markets worldwide after the Federal Reserve ’s big cut to interest rates Wednesday. The S& P 500 was 1.6% higher in midday trading and above its all-time closing high set in July. The Dow Jones Industrial Average was up 386 points, or nearly 1%, and on track to top its record set Monday. The Nasdaq composite was 2.5% higher at noon Eastern time.
San Antonio CEOs got bigger paychecks last year as companies’ profits fell. See who took home most. Nvidia, meanwhile, barreled 4.6% higher and was once again the strongest force lifting the S&P 500. Lower interest rates weaken criticism by a bit that its stock price and other influential Big Techs’ look too expensive following the frenzy around artificial-intelligence technology.
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