The S&P 500 will remain in focus on Thursday after the index closed slightly lower following the Federal Reserve’s decision to slash its benchmark rate by 50 basis points. Since

U.S. stocks closed nearly unchanged on Tuesday, giving up earlier gains that had vaulted the S&P 500 and Dow Industrial Average to record highs as investors braced for the first Federal Reserve rate cut in 4-1/2 years.

Stocks jumped Thursday as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut. The Dow rose 633 points, or 1.5%, on Thursday afternoon to pass 42,000. The S&P 500 gained 2%,

The S&P 500 surged to a record high close on Thursday, the day after the Federal Reserve cut interest rates by 50 basis points and indicated more rate cuts were on the horizon. The blue chip Dow Jones Industrial Average also registered a record closing high,

The S&P 500 closed at a record high on Thursday as investors bet the Federal Reserve’s jumbo half-point interest rate cut would help deliver a soft landing for the US economy. Wall Street’s benchmark index rose 1.