Donald Trump’s election victory made for a seismic week on Wall Street — but investors should guard against getting pulled into emotionally charged market narratives that might not endure.

Stocks closed at record highs on Friday, with the S&P 500, Dow Jones, and Nasdaq 100 all notching their biggest weekly gain of the year.

The market is suddenly feeling zen again. With the major indexes all on track for record closing highs, the CBOE Volatility Index, or VIX, continued to plummet in the wake of the election results. The VIX was down to 14.

The Dow’s strong gain this year favored the Democrats and Kamala Harris. But Wall Street is increasingly disconnected from Main Street.

"This is the dawn of a new era for prediction markets," Kalshi's founder said. Betting markets called Trump's win weeks before the election.

The Russell 1000 Value index was up 2.7% on Wednesday afternoon, outperforming the 2.4% rise of the Russell 1000 Growth index, according to FactSet data, at last check. Among small-cap stocks, the Russell 2000 Value index was climbing 6.1% to surpass the Russell 2000 Growth index’s 5.2% advance.

Sky News host Rowan Dean says the stock market has “hit a record high” following the election of Donald Trump.