Wall Street’s main indexes soared on Sept. 19, a day after the Federal Reserve delivered an outsized interest-rate cut, with the Dow Jones Industrial Average and the benchmark S&P 500 Index both setting new all-time highs at closing bell.

The stock rally came amid a broader risk-on pulse in markets on Sept. 19, as investors digested the news of a 50 basis-point interest-rate cut by Fed policymakers, who indicated more reductions to come.

“The market zipped up immediately on the announcement yesterday, came back down when chairman [Jerome] Powell had his press conference and really ended the day flat,” Liz Miller, president of Summit Advisors, said. “So, overnight, we got some euphoria back in. And I think it’s just the feeling and the confirmation that the Fed has pivoted.” Read the full story here›

The incident occurred over the summer, the FBI, the U.S. Cybersecurity and Infrastructure Security Agency, and the Office of the Director of National Intelligence said in a statement. The agencies said the Biden campaign wasn’t interested in the hacked Trump materials. There is no evidence that any Biden campaign officials responded.

The FBI on Wednesday confirmed that Iran-backed hackers targeted former President Donald Trump’s 2024 presidential campaign and tried to deliver that information to President Joe Biden’s campaign earlier this year.

In a Truth Social post, Trump alleged that the Harris campaign is receiving “illegal campaign help” from Iran. Morgan Finkelstein, a spokesperson for the Harris campaign, said in a statement that the campaign is cooperating with law enforcement agencies. “We’re not aware of any material being sent directly to the campaign; a few individuals were targeted on their personal emails with what looked like a spam or phishing attempt,” Finkelstein said. Here’s everything we know so far›

Increased polarization and gerrymandering—the redrawing of district lines for partisan benefit—have made it harder for centrists to get elected and more difficult to achieve bipartisan cooperation, Jill Long Thompson, a former U.S. Congresswoman from Indiana who served in the 1990s, told our colleague, Jan Jekielek.

As a Democrat, she represented a heavily Republican district as a fiscal conservative. Today, centrists like her who reach across the aisle to get things done are few and far between in Congress, she says.

At a time when nearly a third of Americans have a poor opinion of Congress, she and other current and former members of Congress are sounding the alarm in the book “Across the Aisle: Why Bipartisanship Works for America,” which features a number of essays written by both Republicans and Democrats. In Thursday’s American Thought Leaders episode, Thompson makes the case for a return to bipartisan cooperation and civil discussion across the political divide. Watch the full interview here›

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