FX.co ★ US Stocks Rally for 4th Straight Session

The S&P 500 advanced by 0.8%, the Nasdaq climbed 0.9%, and the Dow increased by 0.8%, marking a fourth consecutive session of gains on Wednesday. This upward momentum coincides with the Thanksgiving week and is largely attributed to the significant recalibration of Federal Reserve policy expectations, which now reflect over an 80% probability of a 25 basis point interest rate cut in December. Additionally, reports indicate that the White House is focused on selecting Kevin Hassett, the current Director of the White House National Economic Council, as the next Federal Reserve Chairman. Investors perceive Hassett as supportive of President Trump's preference for lower interest rates, thus reinforcing the anticipation of more accommodative monetary policies. This expectation has further stimulated investment in large-cap technology stocks. Among the leaders, Oracle surged 4% following Deutsche Bank's reaffirmation of a positive outlook, while Nvidia rose 1.4% and Microsoft appreciated by 1.8%, driven by renewed enthusiasm in the AI sector. Conversely, Alphabet saw a decline of 1.1% in its stock. Meanwhile, Deere & Company experienced a significant drop of 5.7% after releasing a pessimistic forecast for the current year.