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

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% to close at a record high of 5,973.10. The Nasdaq Composite rose by 1.51% to reach 19,269.46, marking its first close above 19,000. The Dow Jones Industrial Average ended the day at 43,729.34, with a decline of less than one point.
Tony Roth, Chief Investment Officer at Wilmington Trust, noted that investors might expect volatile trading and a generally higher-moving stock market. "At some point, considering the tight equity risk premiums in stocks and the higher yield levels in bonds, we could have a very compressed equity risk premium, leaving very few opportunities in the stock market. We are not at that point yet. I think we have about six months of serious conversation ahead on this," he said.
Major tech stocks rose on Thursday, supporting the market; Apple (NASDAQ:AAPL) and Nvidia gained 2.1% and 2.3%, respectively. Meta Platforms (NASDAQ:META) saw an increase of 3.4%. Financial stocks that had risen on Wednesday gave back some of those gains on Thursday. JPMorgan Chase (NYSE:JPM) shares fell by 4.3%, and American Express declined by 2.8%, putting pressure on the Dow.