"The U.S. stock market is rising again on Monday, ahead of a week with shortened trading because of the Thanksgiving holiday. The S&P 500 climbed 1.4% and added to its jump from Friday. The Dow Jones Industrial Average was up 221 points, or 0.5%, as of 12:30 p.m. Eastern time, and the Nasdaq composite was 2.4% higher. Stocks got a lift from rising hopes that the Federal Reserve will cut its main interest rate again at its next meeting in December, a move that could boost the economy and investment prices."
"The market also benefited from strength for stocks caught up in the artificial-intelligence frenzy. Alphabet, which has been getting praise for its newest Gemini AI model, rallied 5.2% and was one of the strongest forces lifting the S&P 500. Nvidia rose 2.1%. But Monday's gains were hesitant, and the S&P 500 rallied to a gain of 1% only to halve it within the first 15 minutes of trading, before picking up momentum again."
"Stocks have been swinging sharply, not just day to day but also hour to hour, in recent weeks as worries weigh about what the Fed will do with interest rates and whether too much money is pouring into AI and creating a bubble. All the uncertainty is creating the biggest test for investors since an April sell-off, when President Donald Trump shocked the world with his "Liberation Day" tariffs. Still, despite all the recent fear, the S&P 500 remains within 2.8% of its record set last month. One of the biggest tests will arrive Tuesday, when the U.S. government will deliver data showing how bad inflation was at the wholesale level in September. Economists expect it to show a 2.6% rise from a year earlier, the same inflation rate as August. A higher-than-expected reading could deter the Fed from cutting its main interest rat"
U.S. stock markets rose Monday ahead of a shortened Thanksgiving trading week, with the S&P 500 up 1.4%, the Dow up 221 points (0.5%) and the Nasdaq up 2.4% by midday. Markets gained on growing optimism that the Federal Reserve will cut its main interest rate in December, which could support the economy and asset prices. AI-related stocks led gains, with Alphabet jumping 5.2% and Nvidia rising 2.1%. Market volatility remained pronounced, with rapid intraday swings. The S&P 500 sits within 2.8% of its record. Upcoming wholesale inflation data for September, expected at 2.6% year-over-year, could influence Fed timing.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]