Stocks pushed higher on Wednesday, giving the major US indexes their fourth consecutive day of gains heading into Thanksgiving. The Dow Jones Industrial Average rose 314.67 points, or 0.67 percent, to 47,427.12. The S&P 500 added 0.69 percent to close at 6,812.61, while the Nasdaq Composite advanced 0.82 percent to 23,214.69.
According to the CNBC website, despite this midweek rally, indexes are on track for a losing month. A pullback in tech stocks has weighed on the averages in November, amid lingering concerns over the future profitability of AI companies.
Yet some investors see November’s slide as a chance for a year-end rally, buying stocks now at more attractive valuations.
According to CNBC website, stocks are set to finish the week with gains, driven by a rebound in tech stocks. By Wednesday’s close, the Dow had risen over 2 percent, while the S&P 500 and Nasdaq Composite climbed 3 percent and 4 percent.
The stock market was closed on Thursday for Thanksgiving and is scheduled to close early at 1 pm ET on Friday. With the coming of the holiday season, investors will be watching closely to see if the market’s recent rebound sets the stage for a year-end rally.