NEW YORK, Nov. 7 (Xinhua) -- U.S. stocks ended mixed on Thursday as investors processed a fresh interest rate cut from the Federal Reserve alongside Donald Trump's presidential election win.

The Dow Jones Industrial Average fell 0.59 points, or 0.00 percent, to 43,729.34. The S&P 500 added 44.06 points, or 0.74 percent, to 5,973.1. The Nasdaq Composite Index increased 285.99 points, or 1.51 percent, to 19,269.46.

Eight of the 11 primary S&P 500 sectors ended in green, with communication services and technology leading the gainers by adding 1.92 percent and 1.83 percent, respectively. Meanwhile, financials and industrials led the laggards by losing 1.62 percent and 0.60 percent, respectively.

As anticipated, the Fed reduced its benchmark interest rate by 25 basis points on Thursday, bringing it down to a range of 4.5 percent to 4.75 percent.

However, the central bank removed language from its policy statement that the Federal Open Market Committee "has gained greater confidence that inflation is moving sustainably towards 2 percent," raising questions about the pace and number of future rate cuts.

Instead the policy statement read: "the Committee judges that the risks to achieving its employment and inflation goals are roughly in balance."

Attention is now on what Fed Chair Jerome Powell may signal regarding future policy, especially with Trump's return possibly meaning a longer period of elevated rates.

On Thursday, markets remained upbeat following Trump's victory, with his proposed corporate tax cuts and deregulatory plans fueling hopes for economic growth that could bolster stock prices.

In corporate news, Arm Holdings rose overt 4 percent in a tech rally, despite its revenue forecast falling short of expectations for artificial intelligence-driven growth, while Qualcomm held steady after surpassing profit and sales projections.

Meanwhile, Zillow surged 23.77 percent following the real estate company's robust third-quarter sales growth. Lyft also saw a strong performance, jumping almost 23 percent as the ride-hailing company surpassed earnings expectations and raised its forecast. AppLovin skyrocketed 46.27 percent after the software maker reported third-quarter results and a fourth-quarter outlook that both exceeded analyst expectations. Enditem

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