S&P 500, Nasdaq, Dow and Russell 2000 Hit Records: Markets Wrap

Wall Street’s bets that Federal Reserve rate cuts will keep powering Corporate America drove stocks to all-time highs, with traders piling into the riskier corners of the market.

A day after the Fed deployed its first reduction this year and signaled the potential for more saw a rally that lifted the S&P 500, the Nasdaq 100, the Dow Jones Industrial Average and the Russell 2000 to records. It’s the first time since November 2021 that all four major benchmarks closed together at fresh highs. And it’s a rare feat too, occurring on just 25 other days this century.