Wall Street ripped gains on Thursday, with market participants taking confidence from the Federal Reserve's bumper half-point rate cut the previous day and jumping back into growth stocks. With a night to digest the Fed's decision,

In the aftermath, economists and traders moved to adjust their forecasts and wagers to account for the Fed’s new narrative. Goldman Sachs Group projected a longer string of consecutive cuts, while JPMorgan Chase’s economists reiterated their call for another half-point reduction in November even as they pointed to jobs data as key to their view.