The Dow Jones Industrial Average and S&P 500 ripped to new all-time highs on Thursday as Wall Street rotated out of overheated tech names and into stocks poised to win from a strengthening U.S. economy.
The shift came after the Federal Reserve’s interest rate cut and a batch of weak Oracle results pushed investors to rethink where the real momentum is headed.
The Dow surged 646.26 points — a 1.34% jump — to close at 48,704.01, a fresh record. It also notched a new intraday high, powered in part by Visa, which climbed after a Bank of America upgrade.
The S&P 500 added 0.21%, finishing at 6,901.00, marking yet another closing record for the broad-market benchmark.
President Trump hit TRUTH Social to celebrate the stock market highs, saying that the economy is strong, and news to the contrary is fake.
“STOCK MARKET JUST HIT AN ALL-TIME HIGH!!! When will the Fake Polls show that I am doing a great job on the Economy, and much more??? Thank you!” Trump said.
🚨 JUST IN: President Trump RIPS the Fake News for propagandizing Americans about the economy
“STOCK MARKET JUST HIT AN ALL-TIME HIGH!!! When will the Fake Polls show that I am doing a great job on the Economy, and much more??? Thank you!” 💯 pic.twitter.com/yceJ1biPL5
— Eric Daugherty (@EricLDaugh) December 11, 2025
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