Stocks jumped Thursday morning as investors cheered the Federal Reserve’s eye-popping half-point interest rate cut.

Stocks were either up big, or down a lot, in the year after the first Federal Reserve interest rate cutting cycle, according to a team led by Keith Lerner, co-chief investment officer at Truist Advisory Services.

Indexes rose Thursday as investors digested Wednesday's jumbo rate cut from the Fed and a fall in weekly jobless claims.