Welcome to Closing Bell, I'm Mike Santoli.

In for Scott Wopner today.

This make-a-break hour begins with a rate-cut rocket launch

to new records on Wall Street,

investors globally embracing the Federal Reserve's half-percent cut 24 hours ago as the right move

for the right reasons preserving a potential soft landing and stoking risk

appetite. Here's your scorecard with 60 minutes to go in regulation. See the S&P 500 there. It is up about 1.9% just off the highs. It did click to a 2% gain earlier.

That surpasses its former peak from mid-July.

The Nasdaq has been the laggard in recent months,

but is playing a bit of catch-up.

You see they're up two and three quarters percent.

The Dow, about 42,000 for the first time and the Russell 2000 participating

although maybe not quite as much as one might expect on this Fed rate cut rally

up 2.08% Treasury yields, responding to the outlook for more rate

cuts from a Fed less worried in the moment about inflation. A 10-year

yield is up a bit. The yield curve steepening 3.73 percent. You see twos down below 3.6 percent.

We'll discuss what all this should mean for your portfolio with Sherry Paul, Oregon Stanley Private Wealth Advisor in just a

bed. But first, our talk of the tape. Can it be this simple, the Fed easing into a

solid economy, good news piled upon good, and how much fuel is left in the market's rocket

boosters after gains in eight of the past nine days for the S&P 500. Let's ask

Cameron Dawson of New Edge Wealth, Verus Investments, Joe

Terra Nova and Payne Capital's Courtney,

...