US Stocks Surge: Tech Giants Lead, Fed Rate Cut Hopes

US stocks surged for the fourth consecutive day, with tech companies leading the charge. The S&P 500 and Nasdaq climbed, while the Dow Jones Industrial Average also rose. This positive movement was driven by strong performances from companies like Nvidia, Microsoft, and Broadcom. Robinhoods stock jumped by 10.9% following plans to expand its prediction markets business. Dell Technologies saw a 6.6% increase after reporting record orders for AI servers. The market rally was widespread, with nearly four times as many gaining stocks as declining ones. Traders are betting on an interest rate cut from the Federal Reserve next month, but the decision is complex due to concerns about inflation. US markets will have a shortened trading week due to Thanksgiving. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.