The S&P 500 index is flirting with a new all-time high. The index traded at 5,667.95, briefly passing it's record close of 5,667.20, before trading slightly lower. The S&P 500 hit its last record close on July 16.

The Dow Jones and the S&P 500 surged to all-time highs in the wake of the Federal Reserve's announcement that it was lowering interest rates by half a percentage point.

Medium- to long-term Treasury yields turned higher Thursday morning, after weekly initial jobless claims reached their lowest level in months and one factory gauge reflected improving conditions. The rise in rates was led by the so-called long end of the curve,

The blue-chip Dow was on pace to ink a milestone, a day after the Federal Reserve cut interest rates in a big way. The Dow Jones Industrial Average was up 1.3%, at last check, trading near 42,030. Should that level hold,