S&P 500 Gains and Losses Today: Index Ticks Higher as Fed Trims Benchmark Rate [Video]

Major U.S. equities indexes ended Thursday mixed as the Federal Reserve concluded its November policy meeting, announcing a widely expected 0.25-percentage-point cut to the benchmark federal funds rate.

The S&P 500 rose 0.7%, notching a record closing high for a second straight session. The Nasdaq also secured a record close, with strength in the communication and technology sectors helping lift the index 1.5%. After fluctuating for much of the session, the Dow ended essentially flat for the day, posting a loss of less than 0.1%.

Epam Systems (EPAM) shares rose 15%, the top performance of any S&P 500 stock on Thursday, after the software engineering firm posted better-than-expected revenue and earnings per share (EPS) for the third quarter. Epam was aided by strong IT spending trends among enterprise clients investing in digital transformation and upgrading their cloud systems. Epam’s CEO also highlighted the recent acquisition of tech consultant NEORIS. The company lifted its full-year sales guidance.

Shares of Viatris (VTRS…