A Federal Reserve rate cut on Wednesday could supercharge an already-strong stock market. JPMorgan's trading desk says that, when the Fed lowers its benchmark lending rate while the S & P 500 is within 1% of its all-time high, the index soars on average by nearly 15% over the next year. The traders also noted that this trend is apparent in the year since the Fed began cutting rates a year ago. "Since then, the S & P 500 is up around 17%. … These types of returns are consistent with the 'Fed cuts in a non-recessionary environment' backdrop that we are expecting in the months ahead," the JPMorgan traders said. The S & P 500 closed above 6,600 for the first time on Monday and ended the day just 0.1% below its intraday record of 6,619.62 reached the same day. .SPX YTD mountain SPX year to date

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