Tech Stocks Climb Before Thanksgiving, Robinhood Jumps 10%: What’s Driving Market Activity on Wednesday?

Market Performance: Stocks were mainly higher at midday, with the Nasdaq 100 leading gains at 1.1%, as investors showed optimism ahead of the Thanksgiving holiday and the strong sales period for corporations.

Labor Market Data: Initial jobless claims fell to 216,000, indicating easing layoffs and supporting consumer confidence, contributing to positive sentiment across all eleven S&P 500 sectors.

Earnings Movers: Dell Technologies saw a 6.7% increase due to strong AI server demand, while Robinhood surged 10% after announcing plans for a new futures and derivatives exchange.

Precious Metals and Crypto: Gold and silver prices rose, with gold up 0.9% and silver nearly 3% higher, while Bitcoin showed signs of recovery, increasing by 3% to $89,000.