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.

Shortly after market open, the Dow Jones Industrial Average rose 1.3% to a new record of 42,105, the S&P 500 rose 1.6% to its new all-time high of 5,713 and the tech-heavy Nasdaq surged 2.3%, though it remains 4% below its July peak.