Stocks in September have been negative for four years in a row but momentum from the rate cut could bring change.

U.S. stock markets jumped to record highs on Thursday, as investors belatedly recognized that the Fed’s 50-basis point rate cut is not so bad after all. Legacy automakers and pure-play electric vehicle (EV) stocks traded on a mixed note,

We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.