fed interest rate cuts and impact on sp

What is the thoughts on the .5 basis points reduction on the Fed US rates and the impact of the sp.

My earlier thoughts were .60 was the second level of support up from the mid .30s, potentially seeing this move through to gain a third level of support in the mid .80s with the interest rate cut, and until further news from the CEO, which obviously will shoot the share price one way or the other.

I currently hold, appreciate your collective thoughts.