The Federal Reserve announced another quarter-point rate cut as expected, indicating that risks are roughly balanced. The S&P 500 index and Nasdaq continued to rise on Thursday to set new historical closing highs, with the Nasdaq closing up 285 points or 1.5% at 19,269 points, and the S&P 500 index closing up 44 points or 0.7% at 5,973 points. The Dow fluctuated throughout the day, closing near flat at 43,729 points.

Technology stocks generally performed well, with Nvidia (NVDA.US), Apple (AAPL.US), and Alphabet (GOOG.US) rising more than 2%, Amazon (AMZN.US) up 1.5%, and Meta (META.US) up 3.4%. After surging nearly 15% yesterday, Tesla (TSLA.US) rose another 2.9% throughout the day.

Bank stocks retreated, with JPMorgan (JPM.US) and Bank of America (BAC.US) falling by 4.3% and 1.4% respectively. Trump Media (DJT.US), owned by Trump, plummeted by 23%.

Some growth stocks were favored, with Warner Bros. Discovery (WBD.US) seeing a 7.2 million increase in Max subscribers in the third quarter, leading to an 11.8% increase in stock price; online car-hailing company Lyft (LYFT.US) exceeded expectations with a 32% revenue growth in the third quarter, causing a 23% surge in stock price; Under Armour (UA.US) raised profit forecasts, resulting in a 23% increase in stock price.