US STOCKS SNAPSHOT-S&P 500 hits record intraday high on dovish Fed

The S&P 500 hit a record intraday high soon after the market opened on Thursday as investors took comfort from signs that the Federal Reserve could cut interest rates as soon as next month to counter growing risks to global and domestic growth.

The Dow Jones Industrial Average rose 161.38 points, or 0.61%, at the open to 26,665.38. The S&P 500 opened higher by 23.14 points, or 0.79%, at 2,949.60. The Nasdaq Composite gained 100.12 points, or 1.25%, to 8,087.45 at the opening bell.