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.

It's been quite the year for artificial intelligence (AI) chipmaker Nvidia ( NVDA 4.57%), which has seen its stock rise more than 161% year to date. Over the last five years, Nvidia's stock is up by more than an astounding 2,560%.

"From a sentiment perspective, we're one bad macro data point away from a pullback," BMO's Brian Belski told Business Insider.

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.

TOKYO -- Asian shares traded mostly lower Wednesday after Wall Street drifted to a mixed finish. Investors were watching for any market impact from the debate between the U.S. presidential candidates, Vice President Kamala Harris and former President Donald Trump.

Wall Street is holding near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session higher. Nifty 50 closed at 25,415.80, while Sensex ended at 83,184.80. Overnight, Wall Street indices witnessed gains, with S&P 500 and Dow Jones closing at record high levels.

The stock market continues to present a series of risks that have kept Wall Street analysts on their toes. From geopolitical tensions to inflation concerns, these factors play a significant role in shaping market sentiments.