Wall Street began the week in celebration mode – by Monday’s close, the Nasdaq Composite, S&P 500, and Dow had all notched record-high closes, extending a rally fueled by hopes of looser monetary policy and tech sector strength. The Nasdaq ended that session at 22,788.98, its third straight record, as investors piled into big tech nasdaq.com. The spark came from the Federal Reserve’s surprise pivot: on Sept. 17 the Fed delivered its first interest rate cut of the year, a 25 bps trim to 4.00–4.25% nasdaq.com. Hopes for easier borrowing costs – and hints of further cuts likely in 2025 – had injected fresh optimism into equities reuters.com. “The rate cut is expected to add to Wall Street’s recent rally,” noted CFRA strategist Sam Stovall, as lower rates boost the net present value of stocks, especially high-growth tech reuters.com.