Tech Strength and Anticipated Fed Rate Cuts Bolster Stocks
Market Performance: The S&P 500, Dow Jones, and Nasdaq 100 indexes are all up today, driven by strong technology stocks and rising expectations for a December Fed interest rate cut, with semiconductor and AI-infrastructure stocks leading the gains.
Economic Indicators: The Bureau of Labor Statistics has postponed the October consumer price and employment reports, with the November report set for December 16 and 18, respectively. Upcoming economic data includes retail sales and producer price index figures.
Corporate Earnings: Q3 earnings season is nearing completion, with 83% of S&P 500 companies exceeding forecasts, resulting in a 14.6% rise in earnings, significantly above the expected 7.2% growth.
Stock Movers: Notable gainers include Broadcom and Centene, while stocks like Frontline Plc and PureCycle Technologies are experiencing declines due to downgrades from analysts.
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