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Stocks Gain on Tech Rally and Expectations of a Cut From the U.S. Federal Reserve
Investors price a 73.5% chance of a Federal Reserve rate cut in December, boosting U.S. tech stocks and ETFs ahead of major earnings reports.
- On Monday, U.S. futures and ETFs rose in premarket trading, with the SPDR S&P 500 ETF Trust at $660.28 and Invesco QQQ Trust ETF at $592.25.
- Markets reacted as New York Fed President John Williams said `I still see room for a further adjustment in the near term`, signaling a potential December rate cut, with CME FedWatch showing a 73.5% probability.
- Small stocks included WeRide Inc. , which jumped 7.92% as revenue grew 144.3% to $24.0 million and gross profit rose 1,123.9% YoY to $7.9 million in the third quarter.
- Investors head into a holiday-shortened week awaiting key corporate reports, including earnings from Dell Technologies Inc. , HP Inc. , Deere & Co. and Li Auto Inc. , with initial jobless claims for the week ending Nov. 22 due Wednesday.
- Analysts say the AI-fueled rally masks deeper fiscal and consumer risks as Investor Ruchir Sharma notes AI capital expenditure drives 40% of growth, while Moody's Chief Economist Mark Zandi warns of a serious affordability crisis.
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Why Opendoor Technologies Skyrocketed 13.9% Today
Key PointsOn Friday, the President of the Federal Reserve Bank of New York indicated more rate cuts are in store.The comments raised market expectations of a 25-basis-point cut in December. 10 stocks we like better than Opendoor Technologies › Shares of Opendoor Technologies (NASDAQ: OPEN) jumped on Monday, finishing the day up 13.9%. The spike comes as the S&P 500 gained 1.5% and the Nasdaq Composite rose 2.6%. On Friday, the President of the F…
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Coverage Details
Total News Sources30
Leaning Left6Leaning Right2Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
11%
R 22%
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