The indices of the New York Stock Exchange closed at record highs on Thursday as somewhat delayed jubilation permeated global markets after the U.S. Federal Reserve cut its key interest rate.
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The S&P 500 Index rose 1.7%, breaking the record reached in July. The Dow Jones industrial average rose 1.3%, another record, and the technology-driven Nasdaq rose 2.5%.
The increases followed increases in Europe and AsiaSome U.S. economic reports have raised hopes that the economy will be able to avoid a recession, as the U.S. central bank cuts interest rates now that inflationary pressures are easing.
