Stock Market Today: Dow tops 42,000, pushes deeper into record territory after Fed's big rate cut
U.S. equities were making big moves higher on Thursday, reflecting the power of the Federal Reserve’s move to lower interest rates.
“Markets like rate cuts, especially big ones when the economy is strong,” Jamie Cox, managing partner at Harris Financial Group, told MarketWatch.
The Dow Jones Industrial Average and S&P 500 both were on pace to score fresh record closes, with the Dow aiming for its first finish above the 42,000 threshold.
“The Federal Reserve made its presence known in protecting the labor market before it weakens further,” Cox said.