After an all-out fight against inflation over the past two years, the Federal Reserve recently voted to lower interest rates by a half percentage point. The Sept. 18 move by the central bank was bolder than many investors expected.

Markets on Wall Street were positioned to open at record highs Thursday after the Federal Reserve issued a bigger-than-usual interest rate cut intended to fortify a cooling labor market and prevent a recession.

Wall Street jumps to record highs as global markets cheer Fed rate cut.