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US Stocks Rise for a Fifth Straight Day to Close Out a Volatile Month
Traders bet on an 87% chance of a Federal Reserve rate cut next month, driving a five-day Wall Street rally despite mixed corporate earnings and tech stock losses.
- On Friday, U.S. markets rose for a fifth straight day, with the S&P 500 index gaining 0.5% and the Dow Jones Industrial Average rising 289 points.
- Traders are wagering on a near-certainty of a Fed cut, pricing a nearly 87% probability according to CME Group data, boosted by Federal Reserve officials' comments ahead of the meeting that ends Dec. 10.
- Among tech stocks, Nvidia underperformed while others gained, with Nvidia down 1.8%, Meta Platforms up 1.5%, Micron Technology rising 2.4%, and Coinbase Global jumping 4.3% as bitcoin climbed above $92,000.
- Markets operated on an abbreviated Thanksgiving holiday schedule, with futures for the Dow, S&P, and Nasdaq halted for hours due to a CyrusOne data center outage.
- Fed minutes show divisions among policymakers, as cutting rates could support a weakening job market but also fuel inflation, complicating the Federal Reserve's decision after two cuts this year.
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46 Articles
46 Articles
US stocks rise for a fifth straight day to close out a volatile month
Wall Street rose for a fifth straight day to put the wraps on a volatile month. The S&P 500 rose 0.5% in abbreviated trading Friday and closed out November with a slight gain. The Dow Jones Industrial Average rose 289…
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Coverage Details
Total News Sources46
Leaning Left11Leaning Right1Center20Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 34%
C 63%
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