The S&P 500 briefly crossed the 6,000 milestone, ending the week with its largest weekly gain in a year, as optimism over a pro-business political landscape took hold following Donald Trump’s election win. Investors were buoyed by expectations for reduced corporate taxes and deregulation, fueling a strong performance across major indices. The S&P 500 and Dow both posted their highest weekly percentage gains since early November 2023, while the Nasdaq marked its best week in two months. A widely anticipated 25-basis-point rate cut by the Federal Reserve also helped propel stocks higher, with the S&P hitting its 50th record close for the year and the Nasdaq logging record highs for three consecutive sessions.

Further lifting the markets, the Dow Jones surpassed 44,000 points for the first time, spurred in part by a rally in Salesforce shares, which rose on news of the company’s expanded focus on its AI tool, Agentforce. Treasury yields dipped for the second day in a row, boosting rate-sensitive sectors like real estate and utilities. Meanwhile, small-cap stocks on the Russell 2000 climbed 8.51% this week, benefiting from expectations of relaxed domestic regulations and lower taxes. However, U.S. listings of Chinese companies fell as Beijing’s new fiscal support measures failed to impress investors, and companies like JD.com and Alibaba saw losses.