The major U.S. stock indexes had their best week in a year, with gains ranging from nearly 5% to 6%. The NASDAQ, S&P 500, and Dow all reached record highs, with the S&P 500 and Dow briefly surpassing the 6,000 and 44,000-point marks, respectively, before closing just below those levels.

Stocks surged on Wednesday as investors reacted to Tuesday’s election results. The Dow jumped 3.6%, the NASDAQ rose 3.0%, and the S&P 500 increased by 2.5%. Meanwhile, bond prices fell, pushing yields higher; the yield on the 10-year U.S. Treasury climbed to 4.43%, up from 4.29% the day before.

The U.S. Federal Reserve reduced its benchmark interest rate by a quarter-point, following a previous half-point cut in September. The move was widely anticipated, and both stocks and Treasury yields remained stable following the announcement on Thursday.

U.S. government bond yields ended slightly lower for the week after a volatile session that saw the 10-year Treasury yield spike to 4.48% during intraday trading on Wednesday. The yield eventually pulled back, closing around 4.30% on Friday, down from 4.37% the previous week.

Investor expectations for short-term stock market volatility dropped significantly after the election. By the end of the week, the Cboe Volatility Index (VIX) had fallen roughly 31%, reaching its lowest level in over three months.

U.S. consumer sentiment hit a seven-month high, surpassing economists’ forecasts. Based on a survey conducted on Monday before the election, the preliminary reading from the University of Michigan’s Consumer Sentiment Index showed an unexpected boost.

The impact of the Fed’s latest rate cut may become clearer with the release of October’s Consumer Price Index (CPI) report on Wednesday. The previous CPI report for September showed a year-over-year increase of 2.4%, slightly below August’s 2.5%. However, core inflation, which excludes food and energy, rose to 3.3%, up from 3.2% in August.