The Fed's cutting cycle in 1995 sparked an economic boom, with the stock market more than doubling in value by the end of the decade.

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

China stocks closed higher Thursday after the U.S. Federal Reserve cut interest rates for the first time in four years. Expectations are also high China’s central bank will cut its own benchmark rate Friday to boost its struggling economy.