Stock Market Today: Nasdaq, S&P 500 Add Gains But Small Caps Lag; Fed Makes Expected Rate Cut (Live Coverage)
The stock market closed mostly higher Thursday but trimmed some gains in afternoon trading after the Federal Reserve cut interest rates by a quarter point, as expected. The Dow Jones Industrial Average ended flat. The Fed did what everyone expected: It lowered the fed funds rate by 25 basis points to a range of 4.50% to 4.75%.