Do rate cuts with the stock market at or near all-time highs provide bulls additional fuel or do they portend trouble ahead? Dow Jones Market Data ran back the tape.

Markets are pricing in with certainty that the Fed will deliver a rate cut this afternoon, the first in over four years.

Wall Street is roaring toward records Thursday as a delayed jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.5% higher in early trading and above its all-time closing high set in July.

U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.

Markets on Wall Street were positioned to open at record highs Thursday after the Federal Reserve issued a bigger-than-usual interest rate cut intended to fortify a cooling labor market and prevent a

If the Fed cuts interest rates today, borrowers will likely see interest rates ease off their peaks on things like credit cards and auto loans.

U.S. stocks briefly shot higher on Wednesday after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years. Citing a "greater confidence" that inflation is moving toward the central bank's 2% target,