U.S. Stocks Reach Record Highs

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Federal Reserve

USA Today

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S&P 500 and Nasdaq extend rally after Fed cuts rates and hints at more ahead. Dow ends flat

Summary

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89% Informative

The Fed lowered its short-term, benchmark fed funds rate by a quarter -percentage point to between 4.5% to 4.75% , down from a 23-year high of 5.25% just a couple of months ago .

It was the second straight cut and off the heels of a jumbo half -point cut the last time the Fed met in September .

The Dow closed flat at 43,729.34 , but the broad Standard & Poor's 500 ended at a record high 5,973.10.

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English

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