"Stock market rally falters as oil prices surge"

US stocks rallied on Thursday following the Federal Reserve's announcement of more potential rate cuts in 2024. The Dow Jones Industrial Average and the S&P 500 reached new all-time highs, while the Nasdaq Composite also gained. The Real Estate sector led the market action, rising nearly 3%, and bank stocks soared. The Russell 2000 Index, which had previously declined due to fears of higher rates, rose over 2.5%. Additionally, mortgage rates fell below 7% for the first time since August, and economic data showed strong consumer spending and low layoffs.