S&P 500, Dow close at record highs after Federal Reserve rate cuts
U.S. stocks jumped Thursday following the Federal Reserve’s decision to go big with a 50 basis point cut to interest rates. The Dow Jones Industrial Average closed above 42,000 for the first time, ending the day up 1.3% at a record 42,025.19. The S&P 500 also ended the day at a record high for the…