Cyberattack Disrupts Operations at Major European Airports Including Heathrow and Brussels

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering Business

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Image Source: Steve Parsons | Pa Images | Getty Images

U.S. stocks surged to record highs on Thursday after the Federal Reserve announced an interest rate cut, fueling optimism across Wall Street. The S&P 500 and Nasdaq indexes closed at historic levels, while the Dow Jones Industrial Average also posted solid gains. The rally was driven by strength in the technology sector, led by an extraordinary surge in Intel shares.

Intel jumped nearly 23 percent, marking its biggest one-day increase since 1987, after news that Nvidia would invest $5 billion to acquire a stake in the company. The move sparked a wave of enthusiasm across the semiconductor industry, with the broader chip index climbing more than 3.5 percent. Nvidia also gained over 3 percent, extending its market leadership in the sector.

The rate cut by the Federal Reserve, a quarter of a percentage point, was the first in months and was aimed at supporting the U.S. economy amid signs of a cooling job market. Fed Chair Jerome Powell signaled that policymakers were concerned about labor market softness and suggested further reductions could follow if economic conditions warranted. Investors are now pricing in additional cuts through 2025, raising expectations of a supportive monetary environment for equities.

The Russell 2000 index of small-cap stocks also benefited, reaching its highest close in nearly a year, as lower rates are expected to reduce financing costs for smaller companies. Gains were broad-based, with seven of the 11 sectors in the S&P 500 advancing. Technology led the rally, while consumer discretionary and consumer staples lagged.

By the closing bell, the S&P 500 was up 0.48 percent, the Nasdaq added 0.94 percent, and the Dow rose 0.27 percent. The combination of Fed policy support and strong corporate news has strengthened investor confidence, pushing U.S. markets firmly into record territory.