S&P 500 Hits Record High as Fed Poised to Cut Rates

U.S. stocks surged to a record at the open of regular trading, while Treasuries extended gains and the dollar slumped as the Federal Reserve’s dovish shift reverberated through markets. Gold rose to the highest in more than five years.

The benchmark S&P 500 Index surpassed the previous all-time closing high of 2,945.83 set on April 30 and is up more than 17% this year.

The Dow Jones Industrial Average rose 161.38 points, or 0.61%, at the open to 26,665.38. The S&P 500 opened higher by 23.14 points, or 0.79%, at...