Wall Street Soars Following Cut To Interest Rates

NEW YORK (AP) — Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 jumped 1.7% Thursday for one of its best days of the year and topped its last all-time high set in July. The Dow Jones Industrial Average leaped more than 500 points, or 1.3%, to beat its own record set on Monday, and the Nasdaq composite led the market with a 2.5% spurt. Treasury yields were mixed in the bond market as economic reports helped bolster hopes that the economy can avoid a recession with the help of lower rates.