After the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) closed Thursday's session at fresh record highs, Asking for a Trend host Josh Lipton takes a look at the day's biggest market-moving stories.

Serpa Pinto Advisory founder Jon Hilsenrath examines the relationship between President-Elect Donald Trump and Federal Reserve Chair Jerome Powell after the latter said he would not step down from his role in the central bank if asked to.

Rivian Automotive (RIVN) and Lucid Group (LCID) stocks are gaining in after-hours after the EV makers reported quarterly results. Yahoo Finance Senior Autos Reporter Pras Subramanian breaks down what investors need to know about the two automakers' profit losses.

Block (SQ), Affirm Holdings (AFRM), and DraftKings (DKNG) stocks were on the move in after-hours trading after reporting quarterly earnings.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Naomi Buchanan.