Market Highlights

Tech stocks led the climb in US equities as rising expectations for interest-rate cuts helped carry traders’ newfound optimism into the Thanksgiving break. The dollar slumped. The S&P 500 rose 0.7% Wednesday, extending an advance into a fourth session after reclaiming its 50-daymoving average, a key technical support. Volume on the equity benchmark was around 11% lighter than 30-day average for the time of day. The Nasdaq 100 ended the session up 0.9% after Nvidia Corp. bounced back from competitive fears over its AI processors. Volatility took a breather with the VIX dropping around 35% over a four-day span, the steepest pullback in Wall Street’s fear gauge since mid April.