Stock Market Live Update: Wall Street closed with gains due to increasing bets on Fed rate cut in December
Wall Street continued its rally on Wednesday as the tech sector regained strength and the growing possibility of an interest rate cut by the US Federal Reserve in December put investors in a buying mood a day before the Thanksgiving holiday.
All three major US stock indexes posted their fourth consecutive daily gain as investors shrugged off concerns over inflated tech valuations that had kept all three indexes in losses last week.
The Dow Jones Industrial Average rose 314.67 points, or 0.67%, to 47,427.12, the S&P 500 rose 46.73 points, or 0.69%, to 6,812.61 and the Nasdaq Composite added 189.10 points, or 0.82%, to Reached 23,214.69.