The three main U.S. equity indexes gapped up at the opening bell Wednesday, rallied all day, and will carry four straight days of gains into the Thanksgiving holiday. Markets reflect resurgent bullishness about AI and tech as well as refreshed hope for a December rate cut.
Incoming economic data continue to support the idea of another rate cut at the next Fed meeting. The Department of Labor said weekly jobless claims declined by 6,000 to 216,000 for the week ending November 22, below a consensus forecast of 225,000. The four-week moving average declined by 1,000 to 224,000.
