Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve's big cut to interest rates.

US stocks surged to record highs after the Federal Reserve delivered a major 50-basis-point interest rate cut, its first in four years. This decision has bolstered investor confidence, with the S&P 500 gaining 1.

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.