Stocks log fourth day of gains ahead of Thanksgiving as tech rebounds
Stocks rose on Wednesday, putting the major averages on pace for their fourth straight day of gains ahead of the Thanksgiving holiday.
The Dow Jones Industrial Average gained 388 points, or 0.8%. The S&P 500 climbed 0.9%, while the Nasdaq Composite increased 1%.
The broader market’s gains were bolstered by artificial intelligence player Oracle, which jumped more than 4% after Deutsche Bank reaffirmed its bullish stance on the name. Nvidia shares moved up more than 1%, recovering from a recent pullback, while fellow “Magnificent Seven” member Microsoft traded more than 2% higher.
The S&P 500 and the Dow are pacing for their best weeks since late June, with the broad-based index being up more than 3% and the blue-chip Dow rising almost 3% week to date. The tech-heavy Nasdaq has seen a more than 4% gain this week, tracking for its best week since mid-May.
Source : Cnbc.com