.png){kind=logo}
US stocks advanced on Wednesday as traders increased bets on a December interest-rate cut from the Federal Reserve. Major benchmarks moved higher ahead of the Thanksgiving break, supported by softer labor data and expectations of easier policy through 2026.
The S&P 500 climbed around 0.4% in early trade and later approached a 0.9% gain, extending its winning streak to a fourth session. The tech-heavy NASDAQ 100 added about 0.4% at the open and later gained more than 1%, while the Dow Jones Industrial Average also traded higher. The S&P 500 reclaimed its 50-day moving average, giving chart-focused investors another signal of renewed momentum.
Money markets now price a strong probability of a 25-basis-point Fed cut at the December meeting. Investors also expect additional reductions in short-term interest rates by the end of 2026. Many traders interpret recent Fed comments as prioritizing labor market stability over lingering inflation concerns.
Fresh economic data reinforced that view. Weekly initial jobless claims slipped to their lowest level since mid-April, despite forecasts for a modest increase. Durable goods orders showed growth broadly in line with expectations. Traders also watched for the Fed’s Beige Book, which provides an updated snapshot of economic conditions across US regions.
Large-cap technology and AI-linked stocks helped lead US stock market gains today. The NASDAQ 100 rebounded as Nvidia shares recovered from recent pressure tied to competition in AI chips. Analysts noted that demand for AI infrastructure remains strong, even as investors reassess stretched valuations across the sector.
Dell Technologies' stock advanced after the company lifted its full-year forecast. Analysts highlighted stronger AI server shipments as a key factor behind the improved outlook. HP Inc. shares also rose after the firm announced plans to cut roughly 10% of its global workforce as it shifts resources toward artificial intelligence and efficiency initiatives.
Among consumer and industrials, Petco Health & Wellness surged after lifting its annual profit forecast, a sign the retailer was making strides in its turnaround. Deere & Co. retreated after the machinery maker forecast 2026 net income below market expectations, citing uncertainty around the pace of recovery in the US farm economy.
Other corporate headlines also crossed with broader risk sentiment. Robinhood Markets and Susquehanna International Group agreed to acquire regulated exchange LedgerX from Miami International Holdings as part of a bigger push into derivatives and prediction markets. The deal added to a busy calendar of financial sector transactions that investors were following alongside stock indices.
Crypto-related developments also featured in US stock market news today. PayPal launched a $1.386 million Bitcoin holiday sweepstakes for eligible US customers, adding a high-profile promotional layer to its existing digital asset strategy.
The campaign runs from November 17 through December 21 and will award Bitcoin prizes to 1,008 winners. Six participants can win $100,000 in BTC each, while others receive smaller amounts. Users gain entries by buying supported cryptocurrencies such as Bitcoin, Ether, Solana, Litecoin, Chainlink, and Bitcoin Cash through PayPal, subject to weekly limits. A no-purchase mail-in option also allows participation, in line with US sweepstakes rules.
The promotion follows earlier steps by PayPal to integrate digital assets into its platform, including crypto trading, “Checkout with Crypto,” and the launch of its PYUSD stablecoin. While the sweepstakes does not move stock indices directly, it illustrates how large payment firms continue to link retail engagement, crypto adoption, and financial services innovation within the broader US market today.
