Stock market today: Dow hits a record as Wall Street rallies after the Fed signals rate cuts in 2024

NEW YORK — A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year.

The Dow jumped 512 points, or 1.4%, to top 37,000 and surpass its prior peak of 36,799.65 set at the start of last year.

Other, more widely followed indexes of U.S. stocks also leaped. The S&P 500 rose 1.4% and is within 2% of its own record. The Nasdaq composite also gained 1.4%.

https://www.startribune.com/stock-market-today-dow-hits-a-record-as-wall-street-rallies-after-the-fed-signals-rate-cuts-in-2024/600326458/