Dow, S&P 500 reach new highs as Fed rate cut fuels rally


By Xie ZheshuShi Chun

NEW YORK, Sept. 19 (Xinhua) -- U.S. stocks ended higher on Thursday, with the Dow Jones Industrial Average and the S&P 500 both reaching record highs, after the Federal Reserve lowered interest rates by half a percentage point.

The Dow Jones Industrial Average rose 522.09 points, or 1.26 percent, to 42,025.19. The S&P 500 added 95.38 points, or 1.70 percent, to 5,713.64. The Nasdaq Composite Index increased 440.68 points, or 2.51 percent, to 18,013.98.

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