Stocks closed solidly higher on Thursday for the fourth straight session as investor optimism about the Trump administration continues to run high.
Among the Dow Jones Industrial Average's 30 components, there are two historically cheap brand-name companies, as well as a new member that's priced for perfection in an imperfect industry.
The Dow Jones Industrial Average (DJIA) continues to lean into the bullish on Wednesday, climbing around 100 points and inching towards 44,200 as equities tilt into the buy button. There aren’t any particular reasons for a fresh bull run to kick off, but investors aren’t finding any particular reason for a turn into the bearish side, either.
U.S. stock futures edged lower in early action Thursday as traders took a breather after three days of gains. Dow Jones Industrial Average futures fell 23 points, or 0.1%, to 44330. S&P 500 futures dropped 11 points,
U.S. stocks rose to a record as Wall Street regained some of the momentum that catapulted it to 57 all-time highs last year.
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The S&P 500 climbed to a fresh record on Thursday, driven by President Donald Trump’s calls for immediate interest rate cuts and cheaper oil prices.
The broad based index finished the trading day up over 0.5%, securing its first all-time closing high of 2025. The Dow Jones Industrial Average ( ^DJI) popped around 0.9%, but was unable to secure its own record, while the Nasdaq Composite ( ^IXIC) recovered from earlier losses to close up about 0.2%.
"I'll demand that interest rates drop immediately and likewise they should be dropping all over the world," Trump said to business leaders from around the world. The yield on the 10-year U.S. Treasury note retreated from its intraday high of 4.664% following Trump's comments but closed at 4.648%, up from 4.599% on Wednesday.
Investors are appraising the likely impact of Trump's orders on stocks on the first trading day after the inauguration.