U.S. stocks surge to record, led by tech, as Fed starts easing cycle
(Reuters) — Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with a half-percentage-point reduction and forecast more cuts were on the horizon.
Rate-sensitive growth stocks that have led much of this year’s rally rose. Microsoft added 2%, Tesla gained 4.2% and Apple advanced 2.6%.