Wall Street stocks surge on hopes for interest rate cuts by the Fed

U.S. stocks are ticking higher on Wednesday after a rally spurred by hopes for lower U.S. interest rates wrapped around the world.The S&P 500 rose 0.4%, coming off its latest all-time high. The Dow Jones Industrial Average was up 364 points, or 0.8%, as of 10:20 a.m. Eastern time, while the Nasdaq…