Dow rises 400 points to record close after Fed says 3 rate cuts are on the way - 3 major averages rallied to hit all- time closing records on Wednesday

MARKET NEWS — Dow rises 400 points to record close after Fed says 3 rate cuts are on the way: The three major averages rallied to hit all- time closing records on Wednesday after the Federal Reserve held rates at a 23-year high and maintained expectations for three cuts before the end of 2024. The Dow Jones Industrial Average rallied 401.37 points, or 1.03%, to finish at 39,512.13, while the S&P 500 gained 0.89% to close at 5,224.62 and punched above the 5,200 level for the first time ever. The Nasdaq Composite jumped 1.25% to settle at 16,369.41... cnbc.com