Stocks Surge as Economic Indicators Hint at Fed Rate Cuts

Wall Street ended the day on a high note Thursday, with the S&P 500 and Nasdaq inching closer to historic highs, driven by optimism over potential Federal Reserve rate cuts influenced by recently released economic data.

Euphoria spread across U.S. markets as investors interpreted the Fed's potential move as a harbinger of economic support and deregulation. The anticipation of three rate cuts this year was highlighted by Bill Northey, senior investment director at U.S. Bank Wealth Management.

The banking sector particularly benefited, propelled by proposed leverage rule relaxations. However, opinions on immediate tariff impacts and economic forecasts ranged across Federal Reserve officials, as the market remains fluctuating yet optimistic.

(With inputs from agencies.)