US Stock Market Today: S&P 500, Nasdaq Jump Ahead Of Thanksgiving Holiday
The 30-stock Dow Jones Industrial Average gained 171 points, or 0.4% at open. The S&P 500 climbed 0.5%, while the tech-heavy Nasdaq Composite advanced 0.7%.
US stocks edged higher on Wednesday, putting the major benchmarks on pace for their fourth straight day of gains, ahead of the Thanksgiving holiday.
The 30-stock Dow Jones Industrial Average gained 171 points, or 0.4% at open. The S&P 500 climbed 0.5%, while the tech-heavy Nasdaq Composite advanced 0.7%.
Nvidia Corp. rose more than 2%, recovering from a recent pullback. Microsoft Corp. gained 1%.
Nine of the 11 sectoral indices on the S&P 500 traded in green, led by gains in information technology and utilities. Only telecom and healthcare stocks traded lower.
Wall Street analysts have started placing bullish stock bets for 2026. Deutsche Bank strategists expect the S&P 500 to climb to 8,000 by the end of 2026, implying an 18% rally and supported by strong earnings and rising buybacks. Their peers at JPMorgan Chase & Co. see the benchmark reaching 7,500, while Societe Generale SA has set a 7,300 target, according to a Bloomberg News report.
The yield on 10-year Treasuries rose two basis points to 4.02% after inital jobless claims for the week of Nov. 22 fell slightly, defying expectations for a modest increase.
The dollar index gained nearly 0.2% to 99.81. The euro gained while the pound and yen fell.
Spot gold rose 0.4% to $4,147.63 an ounce on rising expectations for US interest-rate cuts. Bullion typically benefits when rates are low, as it doesn’t pay interest.
Among cryptocurrencies, Bitcoin rose 0.3% to $87,231.07, while Ether was little changed at $2,929.
