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Though the S&P 500 briefly touched a new record, equities were mixed as investors remain split over the Fed's interest rate decision on Wednesday.

U.S. stocks ended mixed on Monday, as traders’ expectations for the Federal Reserve to deliver a 50-basis-point rate cut on Wednesday continued to grow. The Dow Jones Industrial Average went up 228.30 points or 0.

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.

Wall Street jumps to record highs as global markets cheer Fed rate cut.

Lower interest rates help financial markets in two big ways.

"This would be the third time that stocks entered a cycle where annual returns compound at high teens," Fundstrat's Tom Lee said.

Wall Street is roaring toward records as a delayed reaction of jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 was 1.6% higher