The Federal Reserve's closely followed overnight reverse-repo facility already has begun to reflect Wednesday's big interest-rate cut. Wall Street firms rushed to park extra cash overnight at the facility in the wake of the pandemic,

Wall Street indexes soared to record highs following the Federal Reserve's significant interest rate cut, which enhanced investor risk appetite. Major tech stocks like Microsoft and Apple saw gains, alongside smaller companies.

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