A sense of déjà vu overwhelmed Wall Street this week, as Donald Trump’s election win gave the stock market a jolt similar to what happened after his victory eight years ago. Small caps soared, banks leaped and the S&P 500 Index had its best Election Day in history and strongest week in 12 months.

U.S. stocks are ticking higher ahead of the Federal Reserve’s announcement coming later in the afternoon about what it will do with interest rates.

U.S. stocks cruised to more records as they closed their best week in a year on Friday. The S&P 500 rose 0.4% to cap its biggest weekly gain since early November 2023 and briefly crossed above the 6,000 level for the first time.

Wall Street rose modestly in premarket trading but remained on track to log its first losing week since early September as higher Treasury yields continued to pressure equities.

Gift Nifty was trading around 24,440 level, a discount of nearly 150 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

Drops for Big Tech companies including Microsoft and Facebook's parent company Meta Platforms led Wall Street lower

All year, a slew of Wall Street pros have questioned the durability of an indiscriminate risk rally that has fattened stock prices by trillions of dollars, sent Bitcoin soaring, fueled a credit bonanza,