S&P 500, Nasdaq close at records and extend postelection rally as Fed cuts rates
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, ...