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.

Indexes rallied Thursday, with tech stocks leading the Nasdaq to rise 2.5% as investors continued to digest Wednesday's jumbo rate cut from the Fed.

U.S. stock indexes remained stuck in place as Wall Street made few big moves ahead of what’s expected to be the first cut to interest rates in more than four years.