Wall Street's Bull Run: AI Boost and Trump's Influence

Wall Street continues its bull run, driven by AI advancements, lower interest rates, and optimism from Donald Trump's presidential win. Main indexes like the S&P 500, Dow, and Nasdaq near record highs amid a surge in technology and crypto stocks. However, equities face challenges from stretched valuations and Treasury yield fluctuations.

Wall Street's main indexes are poised to start the final trading day of 2024 on a positive note, extending a bullish trend spurred by post-pandemic economic strength, anticipated lower borrowing costs, and the influence of AI advancements.

The S&P 500, Dow, and Nasdaq aim for their second consecutive year of gains, largely fueled by nearly 100-basis point rate cuts by the Federal Reserve and thriving technology stocks, bolstered by expectations of AI-driven corporate profit boosts.

While Nevada's AI shares surged by 170%, driving market valuations, equities face volatility due to high Treasury yields amid stretched valuations. Nonetheless, Trump's presidential win has invigorated small-cap shares, with crypto stocks like Bitcoin and MicroStrategy also witnessing significant gains.

(With inputs from agencies.)