Wall Street Rises For Fourth Straight Session Amid Tech Jump

04:37 PM EST, 11/26/2025 (MT Newswires) -- Major equity indexes rose on Wednesday, marking the fourth consecutive day of gains on Wall Street as the technology sector advanced, with the Federal Reserve likely to cut rates in December.

The Nasdaq Composite was up 0.8% at 23,214.7, while the S&P 500 advanced 0.7% to 6,812.6. The Dow Jones Industrial Average rose 0.7% to 47,427.1.

Barring communication services and health care, all sectors posted gains, led by a 1.3% jump in tech and utilities.

US stock markets will be closed Thursday for the Thanksgiving holiday and will shut early at 1 pm ET on Friday.

Tech giants Microsoft (MSFT) and Nvidia (NVDA) were among the best performers on the Dow, up 1.8% and 1.4%, respectively. Dell Technologies (DELL) , Oracle (ORCL), and Seagate Technology (STX) also logged gains.

US Treasury yields were mixed, with the 10-year rate falling 1 basis point to 3.99% and the two-year rate up 2 basis points at 3.48%.

A couple of weak economic reports on Tuesday have helped convince markets that the Federal Reserve will cut rates in December, but strong data over the next two weeks could still pull policymakers back into the no-cut camp, Macquarie said in a note on Wednesday.

The odds of a 25-basis-point rate cut next month were at about 83% on Wednesday, according to the CME FedWatch tool.

Recent data and downside risks to the labor market suggest that a quarter-percentage-point reduction in the Fed's benchmark rate "remains appropriate" in December, Jefferies said in a note.

Most Fed districts saw "little" change in economic activity since mid-October as overall employment fell, the US central bank said in its latest Beige Book released Wednesday.

The Beige Book contains evidence that's in line with market expectations, as well as monetary policymakers who favor further policy easing next month, TD Economics said.

"If the Fed follows through with the December cut, we anticipate it will take a pause for some time," Economist Ksenia Bushmeneva wrote in a report.

Demand for US durable goods waned in September, weighed down by weakness in the civilian aircraft segment, delayed official data showed Wednesday.

West Texas Intermediate crude oil was up 1.1% at $58.58 a barrel in late Wednesday afternoon trade.

In company news, Robinhood Markets (HOOD) shares surged nearly 11%, the top gainer on the S&P 500. Late Tuesday, Miami International (MIAX) said it agreed to sell 90% of its equity in MIAX Derivatives Exchange to Robinhood in partnership with Susquehanna International. Miami International (MIAX) shares were up 4.1% Wednesday.

Workday's (WDAY) weak organic guidance for remaining performance obligations overshadowed a strong performance in the fiscal third quarter, Oppenheimer said in a note on Wednesday. Workday declined 7.9%, the worst performer on the S&P 500.

Deere (DE) shares fell 5.7%, the second-steepest decliner on the S&P 500, after the agricultural and construction equipment maker issued a full-year net income forecast below Wall Street estimates.

Gold was up 0.5% at $4,196.60 per troy ounce, while silver rose 3.9% to $53.67 per ounce.

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