The Dow Jones Industrial Average soared to a record high, closing up more than 1,500 points on Wednesday after Trump won the presidential election over Vice President Kamala Harris. Meanwhile, the Nasdaq and S&P 500 each rose by more than 2% on Wednesday to also hit new highs.

The S&P 500 and the Dow were set to open at a record high on Wednesday, as Republican Donald Trump won the 2024 U.S. presidential election in a remarkable comeback four years after he was voted out of the White House.

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.

JPMorgan Chase fell 4.3%, a day after banks decisively led the market on expectations that a stronger economy and lighter regulation would mean fatter profits. It and Goldman Sachs were the biggest reasons for the Dow’s slight loss.

U.S. stocks drifted lower Monday ahead of a momentous week full of potential flashpoints in Washington, D.C., and around the world. The S&P 500 slipped 0.3%, though it remains near its record set last month.