Nasdaq, S&P 500 hit record following Fed interest rate cut

Most indices rose on Thursday, coinciding with a decline in Treasury yields and the Federal Reserve's second straight interest rate cut.

The Dow Jones Industrial Average kept flat at 4,372.9 points.

The S&P 500 index leapt 0.75%, or 44 points, to 5,973 points, its highest ever level.

Further, Nasdaq soared 1.5%, or 285 points.

As for European markets, the STOXX Europe 600 inched up 0.6% to 509.9 points.

The German DAX index leapt 1.7% to 19,362 points.

The French CAC 40 index went up 0.75% to 7,425 points.

Meanwhile, the British FTSE index was down 0.30% to 8,140 points.

The Nikkei index fell 0.25% to 39,381 points, and the broader Topix index advanced 1% to 2,743 points.

Brent crude futures for January delivery rose 0.95%, or $0.71, to $75.63 per barrel.

New York Mercantile Exchange (NYMEX) futures for December delivery increased 0.95%, or 67 cents, to $72.36 per barrel.

Regarding gold, futures prices for December delivery were up 1.1%, or $29.5, to $2,705.80 per ounce.

The Federal Reserve announced on Nov. 7, its second interest rate cut of 2024, trimming its benchmark rate by 0.25 percentage points.

The FOMC reduced its federal-funds rate target range to 4.50% to 4.75%, in line with market consensus estimates for a 25-basis point (bps) rate cut.