"Record Highs: Dow Soars as Fed Signals Rate Cuts and Interest Rates Remain Unchanged"

The Dow Jones industrial average closed at a record high, its first since January 2022, while the S&P 500 and Nasdaq rallied over 1% each after the Federal Reserve signaled the end of its interest rate-hiking policy and projected lower borrowing costs in 2024. The Fed left interest rates unchanged and indicated that it is unlikely to raise them further. The stock market responded positively to the news, with all major S&P 500 sectors ending higher. The rally was broad-based, and the small-cap Russell 2000 index surged 3.5%.