"Stocks Soar as Fed Signals Rate Cuts, Dow Hits Record High"

US stocks rose as investors celebrated the Federal Reserve's dovish shift, with the Dow Jones Industrial Average setting a new all-time closing high. The Fed's policy decision indicated that interest rates are unlikely to be raised further and could be cut three times next year. This surprised and pleased investors, who welcomed the Fed's forecast of cooling inflation and stable unemployment. Bonds also rallied, with the yield on the 10-year Treasury falling below 4% for the first time since August. In addition, oil prices rebounded, and central bank decisions elsewhere were watched for signs of a global move towards easing.