The stock market surged to record levels after Wall Street had more time to digest the Federal Reserve’s half-point interest-rate cut. The Dow Jones Industrial Average was up 522 points, or 1.3%. The S&P 500 was up 1.7%. The Nasdaq Composite was up 2.5%. Both the Dow and S&P 500 marked record closes. The Dow’s prior record close was Monday, but the S&P 500 hadn’t marked such a milestone since July 16.
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