Dow and S&P 500 hit record highs as markets respond to Fed’s rate cut
The 30-stock Dow Jones index gained 522.09 points, or 1.26 percent, closing at 42,025.19, its first close above the 42,000 mark. The S&P 500 increased by 1.7 percent, ending at 5,713.64, surpassing 5,700 for the first time. The Nasdaq Composite also rose sharply by 2.51 percent to close at 18,013.98.