Read a roundup of this week's major events, including the Federal Reserve's bumper 50 basis point rate cut and the S&P 500's (SP500) historic milestone.

Wall Street romped to records Thursday as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates. The S&P 500 jumped 1.7% for one of its best days of the year and topped its last all-time high set in July.

U.S. stocks drifted around their all-time highs, as a record-setting week for Wall Street closed on a quieter note