Tech Stocks Lead as Rate-Cut Bets Keep Rally Alive: Markets Wrap

Tech stocks led the climb in US equities as rising expectations for interest-rate cuts helped carry traders’ newfound optimism into the Thanksgiving break. The dollar slumped.

The S&P 500 rose 0.7% Wednesday, extending an advance into a fourth session after reclaiming its 50-day moving average, a key technical support. Volume on the equity benchmark was around 11% lighter than 30-day average for the time of day. The Nasdaq 100 ended the session up 0.9% after Nvidia Corp. bounced back from competitive fears over its AI processors.