Stocks surged to record levels on Thursday following a delayed celebration for yesterday’s rate cut. The Dow Jones Industrial Average climbed 144 points, the S&P 500 rose 0.6%, and the Nasdaq Composite jumped 1.1%, all on track for closing highs after hitting fresh intraday records. Intel led a chip stock rally after Nvidia’s big investment and partnership with the struggling semiconductor firm, with riskier stocks, momentum, and small-caps driving the market.

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