Wall Street Continues to Soar with Record-Breaking Dow and Post-Fed Rally

Wall Street continued its upward trend as the S&P 500 gained 0.3% and the Dow Jones Industrial Average climbed 0.4% to set a new record. Moderna saw a 9.2% jump in its stock after reporting positive data from a study on its melanoma treatment. However, Adobe's stock slumped 6.3% due to a revenue forecast that fell short of expectations. The Federal Reserve's decision to hold interest rates steady and its projection of a potential rate cut next year have boosted investor optimism. Lower interest rates are seen as beneficial for investments and the economy. Real estate and banking stocks were among the winners, while Treasury yields fell as traders anticipated future rate cuts.