FX.co ★ US Stocks Rise as Thanksgiving Week Begins

On Monday, U.S. stocks experienced an uptick as the markets commenced a Thanksgiving week that is shortened by the holiday. The S&P 500 increased by 0.7%, the Nasdaq climbed 1.2%, and the Dow Jones rose by 120 points. This movement came as traders intensified their wagers on a potential Federal Reserve interest rate reduction next month, spurred by remarks from the New York Federal Reserve President last Friday. Currently, there is a 65% likelihood of a 25 basis points cut in the federal funds rate. Investors are also preparing for a busy agenda of economic reports, including data on retail sales, durable goods orders, and the Producer Price Index (PPI). The sectors of communication services and consumer discretionary stood out as the notable leading performers, whereas the energy sector trailed behind. Alphabet's stock surged nearly 4.5% after it surpassed Microsoft to become the third-largest U.S. company by market capitalization as of last Friday. Tesla's shares increased by 4.2% following CEO Elon Musk's announcement that the company has designed several million AI chips for its vehicles and data centers. Conversely, Oracle saw a decline of 1.4%, Exxon Mobil slid by 0.5%, and Procter & Gamble decreased by 1.4%.