Stocks were on the cusp of record highs before Thursday’s bell after the Federal Reserve made its first cut to interest rates in nine months, the Associated Press reports.
Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq climbed 0.8%, 0.7% and 1.1%, respectively.
Intel shares shot up more than 28% after Nvidia announced it was investing $5 billion in the California chipmaker as part of a collaboration to ramp up custom data center and personal computer products.
Cracker Barrel shares fell 8.2% after the restaurant chain said that it expects lower sales and weaker customer traffic in the coming year.
Walt Disney shares were largely flat after the entertainment giant announced that its ABC television division had suspended Jimmy Kimmel’s late-night show indefinitely.
