Stock market news: Nasdaq jumps 0.85% as Federal Reserve announces first rate cut since 2020

Following the Federal Reserve’s unexpected decision to cut interest rates by 50 basis points, U.S. stock markets have surged across the board.

• The S&P 500 rose 39.87 points, or 0.71%, to close at 5,674.45.
• The Dow 30 gained 261.86 points, or 0.63%, reaching 41,868.04.
• The Nasdaq climbed 149.67 points, or 0.85%, to finish at 17,777.73.

Investors reacted positively to the rate cut, signaling confidence in the Fed’s measures to support economic growth amidst current market uncertainties. All major indices closed in the green, reflecting a strong rebound in the aftermath of the announcement.