Sp 500 Nears 6 000 Mark As Trump Win, Rate Cut Keep Rally Alive

The S P 500 index inched closer to the 6 000 mark and the Dow gained on Friday, as a sweeping Trump victory powered bets of a business-friendly agenda and an expected interest-rate cut eased pressure on the US economy.

Both the indexes are set for their best week since last November, while the Nasdaq is on track for its best in two months and second-best week in 2024.

Expectations of lower corporate taxes and looser regulations under Republican Donald Trump helped the benchmark index and Dow notch intraday record highs for the third straight session.

The upbeat sentiment got a boost from the Federal Reserve cutting the benchmark rate by 25 basis points on Thursday, with Chair Jerome Powell saying that the election outcome would not have a near-term impact on the monetary policy.

The small-cap Russell 2000 rose 0.2 on the day, also set for its best week in four years.