Stock market today: Wall Street rises toward records after Fed says 'time has come' for rate cuts

NEW YORK (AP) — U.S. stocks are rising Friday after the head of the Federal Reserve finally said out loud what Wall Street has been expecting for a while: Cuts to interest rates are coming soon to help the economy.
The S&P 500 was 1% higher after Fed Chair Jerome Powell said in a highly anticipated speech that the time has come to lower its main interest rate from a two-decade high. The index is back within 0.7% of its all-time high set last month.The Dow Jones Industrial Average was u