US: Dovish Fed sends Wall Street higher, S&P 500 hits record intraday high

[BENGLAURU] 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 per cent, at the open to 26,665.38.

The S&P 500 opened higher by 23.14 points, or 0.79 per cent, at 2,949.60.

The Nasdaq Composite gained 100.12 points, or 1.25 per cent, to 8,087.45 at the opening bell.

REUTERS