US stocks enjoyed a Wednesday rally, driven by growing optimism for a Federal Reserve rate cut later this year. The S&P 500, Dow Jones, and Nasdaq all posted gains, reflecting a bullish sentiment fueled by recent commentary suggesting a potential shift in monetary policy. Traders are currently pricing in an 83% probability of a rate cut as early as December.
Tech stocks were the stars of the show, leading the market’s upward trajectory. Dell and Nvidia, both key players in the tech sector, saw significant gains. Beyond the established giants, Urban Outfitters also experienced a surge, propelled by strong earnings reports that exceeded expectations. This positive performance underscores the resilience and potential within specific segments of the market.
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