U.S. Stocks Climb for Fourth Day, Driven by Tech Recovery Before Thanksgiving

Stocks advanced on Wednesday, marking the fourth consecutive day of gains for the major U.S. indexes ahead of the Thanksgiving holiday.

The Dow Jones Industrial Average rose 314.67 points, or 0.67%, to 47,427.12. The S&P 500 added 0.69% to close at 6,812.61, while the Nasdaq Composite climbed 0.82% to finish at 23,214.69.

A rebound in major tech names helped lift the broader market. Oracle jumped about 4% after Deutsche Bank reiterated its bullish outlook. Nvidia gained more than 1% following a recent dip, and Microsoft traded nearly 2% higher.

All three major averages are on track for their strongest week since late June: the S&P 500 is up more than 3% so far, the Nasdaq has gained over 4%, and the Dow is higher by more than 2% for the week.

Tuesday’s session also ended in positive territory despite some volatility. Alphabet reached fresh record highs on reports that Meta Platforms may use its TPU chips starting in 2027, while Nvidia slid more than 2.5%.

Investors remain focused on factors that could influence the Federal Reserve’s next policy move. Markets are currently pricing in an over 80% probability of a 25-basis-point rate cut in December, according to CME’s FedWatch tool.

Despite this week’s rally, November has been challenging for equities. The major indexes have reduced their monthly declines, but all are still heading for a negative month as concerns over lofty valuations weigh on high-growth tech stocks. The S&P 500 and Dow are slightly lower for the month, while the Nasdaq is down more than 2%.

U.S. markets will be closed Thursday for Thanksgiving and will reopen Friday for a shortened session, ending at 1 p.m. ET.