New York CNN —
Stocks jumped Thursday as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut.
The Dow rose 633 points, or 1.5%, on Thursday afternoon to pass 42,000. The S&P 500 gained 2%, topping the 5,700 level for the first time. The Nasdaq Composite added 2.9%.
Tech stocks surged: Nvidia shares popped 5.3%, Tesla shares gained 7.1%, Meta Platforms shares rose 3.5% and Apple shares climbed 3.8%.
The Fed on Wednesday cut rates by half a point, marking its first rate cut since the onset of the Covid pandemic and
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