Markets took a breather on Friday, with stock futures little changed in premarket trading after rallying to record highs yesterday on the Fed's supersized rate cut earlier in the week.

After Fed rate cut, the next 6 months will be crucial for investors. Here’s why. Traders brace for volatility as more than $5 trillion in options set to expire in latest ‘triple witching’. Nvidia’s stock is surging. Here’s how it tends to perform after interest-rate cuts.

The 30-stock Dow Jones index gained 522.09 points, or 1.26 percent, closing at 42,025.19, its first close above the 42,000 mark. The S&P 500 increased by 1.7 percent, ending at 5,713.64, surpassing 5,700 for the first time. The Nasdaq Composite also rose sharply by 2.51 percent to close at 18,013.98.