Stocks Soar to Record Highs on Fed Rate Cut Hopes; Reddit Goes Public; Apple Slides on Antitrust Concerns

• Stocks jump to new highs after Fed signals possible rate cuts later this year • S&P 500 tops 5,250, Dow nears 40,000, Nasdaq also at record levels • Bank stocks rally, Goldman Sachs hits 52-week high on rate cut hopes • Reddit prices IPO at $34 per share, begins trading today under ticker RDDT • Apple shares fall on expected Justice Dept antitrust lawsuit over iPhone practices