{"id":36609,"date":"2023-11-22T20:28:09","date_gmt":"2023-11-22T20:28:09","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/wall-st-gains-before-holiday-investors-optimistic-fed-done-raising-rates\/"},"modified":"2023-11-22T20:28:11","modified_gmt":"2023-11-22T20:28:11","slug":"wall-st-gains-before-holiday-investors-optimistic-fed-done-raising-rates","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=36609","title":{"rendered":"Wall St gains before holiday, investors optimistic Fed done raising rates"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS\/Brendan McDermid\/File Photo<\/span>
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By Caroline Valetkevitch<\/p>\n

NEW YORK (Reuters) – U.S. stocks rose on Wednesday as investors were optimistic the Federal Reserve may be done raising interest rates and that the economy is still resilient.<\/p>\n

Among the day’s economic data, the number of Americans filing new claims for unemployment benefits fell more than expected last week. Separately, a survey showed U.S. consumers’ inflation expectations rose for a second straight month in November.<\/p>\n

Tuesday’s minutes on the last Fed meeting showed a cautious approach toward monetary policy. <\/p>\n

Still, stocks have risen sharply in recent weeks on the view that Fed is done hiking rates.<\/p>\n

“Overall you have a solid backdrop to the market,” said Quincy Krosby, chief global strategist at LPL Financial (NASDAQ:) in Charlotte, North Carolina. <\/p>\n

“The signals for the market, despite concerns over the economy and consumer spending, is that this market has sustainability in what is probably the most hospitable season for the market.”<\/p>\n

She said stocks tend to rise just before the Thanksgiving holiday and also to rally heading into year-end. The market will be closed on Thursday for the U.S. Thanksgiving Day holiday.<\/p>\n

The rose 127.48 points, or 0.36%, to 35,215.77, the gained 11.61 points, or 0.26%, at 4,549.8 and the added 49.74 points, or 0.35%, at 14,249.72.<\/p>\n

The technology sector was up 0.2%, while communication services rose 0.7%.<\/p>\n

Among the day’s negatives, Nvidia (NASDAQ:)’s shares fell 2.2% after the chip designer forecast overall fourth-quarter revenue above Wall Street targets, but warned U.S. export curbs could lead to a steep drop in sales in China.<\/p>\n

Among other major movers, Deere (NYSE:) & Co shares were down after the farm equipment maker forecast 2024 profit below analysts’ estimates. Peer Caterpillar <\/span><\/span> (NYSE:) also fell 1.7%.<\/p>\n

Advancing issues outnumbered decliners on the NYSE by a 1.46-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers.<\/p>\n

The S&P 500 posted 45 new 52-week highs and one new low; the Nasdaq Composite recorded 80 new highs and 89 new lows. <\/p>\n

(This story has been refiled to correct a typo in the headline) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS\/Brendan McDermid\/File Photo By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rose on Wednesday as investors were optimistic the Federal Reserve may be done raising interest rates and that the<\/p>\n","protected":false},"author":1,"featured_media":9965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-36609","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nWall St gains before holiday, investors optimistic Fed done raising rates | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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