The Dow Jones Industrial Average will likely remain in focus on Friday after setting a new record high today above 42,000, gaining momentum after the Fed's big half-point rate cut yesterday. The Index has moved higher after retesting the top trendline of an ascending triangle.

The Dow Jones Industrial Average hit a new all-time high on Monday of this week, but its sister index — the Dow Jones Transportation Average — is currently 7% below its high set in November 2021, almost three years ago.

US stocks surged to record highs after the Federal Reserve delivered a major 50-basis-point interest rate cut, its first in four years. This decision has bolstered investor confidence, with the S&P 500 gaining 1.