The S&P 500 rose 0.6% to a record high of 6,086.49 points, while the Dow Jones gained 1.3% to 19,732.87 points, and the Nasdaq increased 0.7% to 45,014.04 points.

Federal Reserve Chairman Jerome Powell's positive outlook on the economy, which he referred to as 'digital gold' in relation to Bitcoin, helped bolster market confidence.

Despite ongoing market uncertainties, investor optimism regarding a stronger economy contributed to broad-based gains, particularly following Powell's encouraging remarks.

On December 4, Wall Street indexes reached record highs, driven by a significant rally in technology stocks, particularly an 11% surge in Salesforce Inc's stock.

All major indexes, including the Dow Jones and S&P 500, benefited from strong earnings reports from tech companies like Salesforce.com and Marvell Technology.

Nvidia's stock, which rose 3.5% to $145.14, regained a crucial resistance level, indicating potential for further growth as it remains a leader in artificial intelligence.

Growth-focused ETFs, such as the Innovator IBD 50 ETF and the iShares Expanded Tech-Software Sector ETF, saw significant gains, reflecting strong investor confidence in tech stocks.

Several tech companies, including Confluent, HubSpot, and Snowflake, showed promising buy signals, while others like SentinelOne and nCino reported disappointing earnings.

Powell's comments suggested a slower pace for future interest rate cuts, likely influencing market dynamics ahead of the Fed's upcoming meeting in mid-December.

Market uncertainty persists due to concerns that economic resilience could lead to persistent inflation, compounded by President-elect Donald Trump’s protectionist trade policies.

Analysts expect continued market gains as 2024 approaches, building on momentum from Trump's election victory in early November.

In the cryptocurrency market, Bitcoin surged 3.45% to $98,972.09, nearing its late November record, reflecting strong interest in digital currencies.