Indexes rose Thursday as investors digested Wednesday's jumbo rate cut from the Fed and a fall in weekly jobless claims.

U.S. equity futures edged higher Wednesday, while moves in the dollar and the Treasury bond market reflected indecision amongst global investors as to how the Federal Reserve is likely to execute its first rate cut in more than four years later today.

Though the S&P 500 briefly touched a new record, equities were mixed as investors remain split over the Fed's interest rate decision on Wednesday.

Don't break out the bubbly just yet. A resilient U.S. economy and a protracted path to the Federal Reserve's 2% annual inflation target could mean that interest rates remain "relatively higher for longer,

Stocks surged to open Thursday trading in the wake of the Federal Reserve’s announcement that it was lowering interest rates by half a percentage point.

Stocks were choppy in the lead-up to today's Federal Reserve policy announcement. While the main indexes made a confident move higher after the central bank cut rates by a half-percentage point, a late-day burst of selling pressure sent them into the red at the close.

Stocks are looking to extend their best weekly gain of the year as they eye the chances of an outsized Fed rate cut on Wednesday.

The blue chip index closed above the psychologically significant 42,000 level for the first time ever Thursday.