Wall Street Rallies as Fed Cuts Interest Rates

Wall Street closed higher after the Federal Reserve cut interest rates by a quarter point, signaling a pause in further cuts. The Fed highlighted a robust economy, maintaining a positive GDP growth forecast, while major indices like the S&P 500 and the Dow Jones surged.

Wall Street witnessed a significant uptick on Wednesday, following the Federal Reserve's decision to cut interest rates by a quarter percentage point.

The central bank indicated it would likely halt further cuts for the time being, citing a robust economic outlook.

Investors, encouraged by the lack of a hawkish tone, drove gains across major indices, with industrials leading, buoyed by GE Vernova's optimistic revenue forecasts linked to AI infrastructure demand.

(With inputs from agencies.)