Wall Street is hanging near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates..

What You Need To Know

  • Wall Street is hanging near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates

  • The S&P 500 was 0.2% higher in afternoon trading Wednesday, within 0.3% of the all-time closing high it set in July

  • The Dow Jones Industrial Average was up 85 points, or 0.2%, slightly above the record it set on Monday

  • The Nasdaq composite added 0.5%

The S&P 500 was 0.2% higher in afternoon trading Wednesday, within 0.3% of the all-time closing high it set in July.

The Dow Jones Industrial Average was up 85 points, or 0.2%, slightly above the record it set on Monday. The Nasdaq composite added 0.5%.

The momentous move by the Fed eases the brakes off the economy by lowering the cost of borrowing money.

It also gives a boost to prices for all kinds of investments.