• Indexes rose Thursday to continue their post-election rally after the Fed cut interest rates.
• The Fed cut rates by 25 basis points, a smaller move compared to its September meeting.
• The central bank appears slightly more focused on inflation while CPI data remains fragile.

Indexes ended higher on Thursday, extending a post-election rally after the Federal Reserve announced a rate cut at the end of its latest policy meeting.

The Nasdaq jumped 1.5% to a new record high, while the S&P 500 climbed 0.8% to a new record high. The Dow Jones industrial index remained almost flat after jumping more than 1,500 points on Wednesday.

Here’s where the US indexes stood at the 4:00 p.m. closing bell on Thursday:

Major indexes rose as the Fed reduce rates by 25 basis pointswhich was widely expected after a first giant drop of 50 basis points in September.

Chairman Jerome Powell said the Fed would continue to depend on data but was prepared to adjust its pace of easing if necessary.

Although some noted after the meeting that the Fed’s tone seemed less confident about the direction of inflation, noting that “progress” had been made rather than the previous phrasing of “further progress,” analysts said. are shown to be indifferent.

“The Committee had used this language as a threshold to begin reducing spending, so we interpret its removal as a reflection that the cycle of spending reductions is already underway rather than as an indication of reduced confidence in the inflation outlook,” Goldman Sachs analysts said. said in a Thursday note.

CPI data remained slightly above the Fed’s 2% target, the latest report showing that inflation calmed in September, but less than economists expected.

The labor market, on the other hand, appears to be a lesser source of stress for the Fed, but Powell said she was “prepared to adjust the pace and destination” of easing as jobs data evolve.

“There appears to be less concern about the risk of rising unemployment and slowing job growth,” Brian Coulton, chief economist at Fitch Ratings, said in a note published Thursday.

The latest jobs data, released Thursday, showed weekly jobless claims rose slightly to 221,000, a gain of 3,000 from the previous week and in line with expectations.

Investors appear to be hoping that Trump’s light-touch regulatory stance and proposed corporate tax cuts will create a more favorable business environment. Evercore ISI predicted this week the S&P 500 is expected to jump 11% by next summer as the rally accelerates in Trump’s second term.

Powell said the election outcome would have “no effect” on Fed policy in the near future and reiterated that the Fed does not speculate on an administration’s potential impact on the economy.

Here’s what else is happening:

In commodities, bonds and cryptocurrencies:

• Oil futures were up. Brut West Texas Intermediate rose 0.5% to $72.06 per barrel. Brent crudethe international benchmark, climbed 0.7% to $75.42 per barrel.
• Gold The rally climbed 1.4% to $2,713.80 an ounce.
• The 10-year Treasury fell nine basis points to 4.335%.
• Bitcoin was up slightly to $76,505.