 The major averages closing higher with the Dow surging and notching a new record close on rate cut optimism. And after the latest retail sales data show that the U.S. economy is still resilient. Investors are confident that the Fed will be lowering interest rates by the end of September, according to data from the CME Group. United Health Group lifting the Dow after reporting stronger earnings results than expected. Small cap stocks continue to rally. However, big tech names were mostly lower.