Wall Street extended its winning streak for a fourth consecutive session on Wednesday as investors embraced optimism heading into the Thanksgiving holiday.
Major indices posted solid gains, with technology and artificial intelligence stocks leading the charge amid growing expectations of another Federal Reserve rate cut in December.
Market Overview
The Dow Jones Industrial Average climbed 363 points, gaining 0.8%, while the S&P 500 advanced 0.8% and the Nasdaq Composite rose 0.9%. The rally comes as traders price in more than an 80% probability of a quarter-point rate reduction at the Fed’s December meeting, according to market indicators.
Top Performers
Oracle Corporation emerged as one of the day’s standout winners, surging more than 4% after Deutsche Bank reaffirmed its bullish stance on the company. The enterprise software giant’s gains reflect continued investor enthusiasm for companies positioned to capitalize on the artificial intelligence revolution.
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Alphabet Inc. continued its remarkable November run, with shares trading near record highs around $324. The Google parent has now soared more than 24% in the past month and 55% in the past three months, driven by investor excitement surrounding its Gemini 3 AI platform and cloud computing growth.
The company’s market capitalization is approaching the $4 trillion threshold, placing it among the world’s most valuable companies alongside Apple, Microsoft, and Nvidia.
Micron Technology also posted impressive gains, climbing roughly 1.9% on the day to trade around $228.80, representing a stunning 150% gain year-to-date. The memory chip manufacturer has benefited from surging demand for AI-grade memory products, with Morgan Stanley recently naming it a top pick and raising its price target to a Street-high $338.
Nvidia Corporation bounced back from recent weakness, advancing nearly 2% as it recovered from a recent pullback. Fellow tech giant Microsoft also participated in the rally, gaining more than 2%.
Nu Holdings reached fresh all-time highs, continuing its strong year with the Brazilian fintech company’s shares breaking above prior peaks in the mid-$16 range. The digital banking platform has attracted significant institutional interest as it expands its footprint across Latin America.
Market Sentiment
Market analysts attribute the positive momentum to a combination of factors beyond rate cut expectations.
Eric Diton of The Wealth Alliance characterized the move as a natural bounce following recent risk-off action, noting that stocks are entering the historically strong November-to-April period.
The technology sector’s strength was particularly noteworthy, with artificial intelligence-related stocks continuing to attract investor capital. The enthusiasm reflects ongoing confidence that AI adoption will drive sustained revenue growth across multiple industries.
Looking Ahead
Trading volume was lighter than usual ahead of the Thanksgiving holiday, which typically results in reduced market activity. Despite the muted participation, the steady gains across major indices suggest investors remain constructive on equities heading into the final weeks of 2025.
With the Fed widely expected to deliver another rate cut next month and seasonal tailwinds supporting equities, market participants are positioning for what many hope will be a strong finish to an already impressive year for stocks.
However, analysts caution that any disappointment from the Federal Reserve could trigger profit-taking after the recent rally.
As Americans prepare for the holiday weekend, Wall Street’s focus will return next week to economic data, corporate earnings, and any signals from Fed officials about the pace of future policy adjustments.
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