How major US stock indexes fared Thursday, 11/7/2024

Most U.S. stocks rose as the Federal Reserve cut interest rates again to make things easier for the economy. The S&P 500 climbed 0.7% Thursday. The Dow Jones Industrial Average was barely changed, and the Nasdaq composite gained 1.5%. The rate cut was widely expected. Federal Reserve Chair Jerome Powell said it’s too early to know how Donald Trump’s presidential victory will shift the Fed’s rate policies. Treasury yields remained lower following the Fed’s announcement. Bank stocks and smaller companies also lagged the market as other Trump trades lost momentum.