US stocks close near record highs, Dow Jones adds 500 points

US stocks ended Wednesday’s session higher, with the main index closing near an all-time high after the Federal Reserve cut interest rates for the third consecutive time this year, as expected.

The Dow Jones Industrial Average rose 1%, or 497 points, to 48,057 points.

The S&P 500 added 0.67%, or 46 points, to 6,886 points, after surpassing an intraday all-time high of 6,890.89 points during the session.

Meanwhile, the Nasdaq Composite gained 0.33%, or 77 points, to 23,654.

In Europe, the Stoxx Europe 600 remained stable at 578.17 points, supported by gains across most major sectors and markets.

Germany’s DAX inched down 0.15% to 24,130 points, France’s CAC 40 fell 0.35% to 8,022, and London’s FTSE 100 rose 0.15% to 9,655.

In Japan, the Nikkei 225 edged down 0.10% to 50,602 points, while the broader TOPIX index climbed 0.10% to 3,408 points.

Brent crude for February delivery increased 0.44%, or $0.27, to $62.21 a barrel.

US WTI crude for January delivery gained 0.36%, or $0.21, to $58.46 a barrel.

Gold futures for February delivery retreated 0.27%, or $11.5, to $4,224.70 an ounce.

The Federal Reserve cut its benchmark interest rate by 25 basis points at its final monetary policy meeting of 2025, noting that risks to employment have increased and that the economic outlook remains clouded by uncertainty.

FOMC members projected only one rate cut in 2026, while Fed Chair Jerome Powell emphasized the need for a cautious approach due to potential data distortions from the government shutdown, but ruled out any rate hikes.