The S&P 500 and Nasdaq rose Thursday, extending Wall Street’s rally in the wake of President-elect Donald Trump’s victory, as traders weighed the latest rate cut from the Federal Reserve.
The S&P 500 gained 0.74% to close at a record high of 5,973.10. The Nasdaq Composite advanced 1.51% to reach 19,269.46 — its first close above 19,000. The Dow Jones Industrial Average was little changed, ticking down less than one point to 43,729.34. All three indexes hit intraday record highs during the session.
The moves built on a surge in stocks Wednesday after Trump’s win, which included a 1,500-point gain for the Dow. The S&P 500 jumped 2.53% for its best post-election day in history.
The bond market has also been volatile since the election, with Treasury yields falling Thursday after spiking in the previous session.
Those big swings were the backdrop for the Federal Reserve’s interest rate cut Thursday afternoon. The…
