There are a lot of opportunities to acquire world class technology and talent at a significant discount if you have the cash. As importantly, cheap(er) money is on its way back.

The Federal Reserve's closely followed overnight reverse-repo facility already has begun to reflect Wednesday's big interest-rate cut. Wall Street firms rushed to park extra cash overnight at the facility in the wake of the pandemic,

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

The blue chip index closed above the psychologically significant 42,000 level for the first time ever Thursday.