The Dow Jones Industrial Average soared to a record high, closing up more than 1,500 points on Wednesday after Trump won the presidential election over Vice President Kamala Harris. Meanwhile, the Nasdaq and S&P 500 each rose by more than 2% on Wednesday to also hit new highs.

The stock market marked a historic milestone on Friday, as the Dow Jones Industrial Average hit 44,000 for the first time in its 128-year history, while the S&P 500 crossed the 6,000 mark. Stocks continued their rally,

The S&P 500 briefly surpassed the 6,000 mark and closed with its biggest weekly percentage gain in a year, while the Dow topped 44,000 for the first time, as Donald Trump’s election victory and a possible Republican Party sweep in Congress fueled expectations for favorable business policies.

Wall Street's major equity averages were mixed Friday, but headed toward weekly advances after a pivotal week in 2024 was headlined by the U.S. federal elections and the Federal Reserve's latest rate cut.