Dow soars over 550 points, S&P 500 hits new record after Fed rate cut

Core Viewpoint - US stocks experienced a significant surge following the Federal Reserve's decision to implement its third consecutive quarter-point rate cut, resulting in a notable increase in major indices [1] Group 1: Market Reaction - The Dow Jones Industrial Average rose by over 550 points, indicating strong investor confidence in response to the Fed's actions [1] - The S&P 500 achieved another record close, reflecting positive market sentiment and potential growth opportunities [1] Group 2: Federal Reserve Actions - The Federal Reserve lowered interest rates to a range of 3.5% to 3%, marking a continued effort to stimulate economic growth [1]