The S&P 500 closed at a record high of 3,386, while the Nasdaq composite closed at 9,817, beating previous closes by less than a point each. Both indexes touched even higher during midday trading. The Dow Jones Industrial Average, meanwhile, was up 115 points.
President Trump hailed the rise in the markets earlier in the day as the "Highest Stock Market In History, By Far!"
Highest Stock Market In History, By Far!— Donald J. Trump (@realDonaldTrump) February 19, 2020
Trump is relying on ebullient markets and a strong economy to bolster his reelection odds come November.
The Fed's notes from its recent meetings pointed to a slew of strong economic indicators, with continued growth and low unemployment.