Wall Street surged toward new record highs on Thursday, led by technology stocks, after Nvidia announced a $5 billion investment in Intel and the Federal Reserve delivered its first interest rate cut in nine months. The S&P 500 rose 0.4 per cent in early trade, poised to surpass its all-time high set earlier this week, while the Nasdaq composite gained 0.8 per cent. The Dow Jones Industrial Average inched up 0.1 per cent, AP reported. Shares of Intel jumped more than 28 per cent following the Nvidia partnership, in which the two chipmakers plan to collaborate on custom data center and personal computer products. Nvidia shares added 2.6 per cent as investors welcomed the tie-up, which aims to strengthen AI infrastructure and PC offerings.Meanwhile, Cracker Barrel fell 8.2 per cent after warning of weaker sales and declining customer traffic amid ongoing controversy over its logo redesign. Walt Disney shares were largely unchanged after ABC indefinitely suspended Jimmy Kimmel’s late-night show over comments that drew criticism from FCC Chairman Brendan Carr.The Fed’s rate cut and projections showing potential further reductions this year and into 2026 provided a tailwind for markets. Analysts noted that while the Fed seeks to balance slowing employment with stubborn inflation, its projections signal cautious optimism for economic growth.Globally, markets were mixed. Germany’s DAX and France’s CAC climbed 1.1 per cent, while the FTSE 100 rose 0.3 per cent ahead of the Bank of England’s policy announcement. In Asia, Japan’s Nikkei added 1.2 per cent, South Korea’s Kospi rose 1.4 per cent, and Chinese indexes slipped, with the Hang Seng down 1.4 per cent and the Shanghai Composite losing 1.1 per cent. Australia’s S&P/ASX 200 fell 0.8 per cent amid weaker employment data. In India, the BSE Sensex rose 0.1 per cent, and Taiwan’s Taiex gained 1.3 per cent.