Dow Jones and Standard and Poor's 500 at record highs
NEW YORK, New York - U.S. and global stocks surged on Thursday following the Federal Reserve's 50 basis points rate cut on Wednesday, and positive, yet unexpected, unemployment data released on Thursday. The Dow Jones hit a new high, topping 42,000 for the first time, while the Standard and Poor's 500 did likewise, ytopping 5,700 for the first time..
Weekly jobless claims dropped by 12,000 to 219,000, well below