Rally Continues on Wall Street as S&P 500 and Nasdaq Close at Record Highs

Forex - Following Trump's victory, the rally on Wall Street continues, supported by the Fed's interest rate cut, with the S&P 500 and Nasdaq Composite Index closing at record levels.
The S&P 500 gained 0.74%, reaching a record high of 5,973.10. The Nasdaq Composite rose 1.51% to 19,269.46, achieving its first close above 19,000. The Dow Jones Industrial Average ended the day slightly lower at 43,729.34.
Tony Roth, Chief Investment Officer at Wilmington Trust, stated that investors might expect volatile trading and a generally higher-moving stock market. "At some point, with the stretched valuations in equities and higher yield levels in bonds, we could be facing a very compressed equity risk premium, leaving very few opportunities in the stock market. We are not at that point yet. I believe we have about six months ahead of us to have a serious conversation about this," he said.
Large technology stocks rose on Thursday, supporting the market; Apple (NASDAQ:AAPL) and Nvidia increased by 2.1% and 2.3%, respectively. Meta Platforms (NASDAQ:META) climbed 3.4%. Financial stocks that rose on Wednesday gave back some of their gains on Thursday. Shares of JPMorgan Chase (NYSE:JPM) fell by 4.3% and American Express dropped by 2.8%, putting pressure on the Dow.