Wall Street Surges Amid Tech Revival and Rate Cut Hopes

Wall Street saw a continued rally, driven by tech sector strength and growing expectations of a December interest rate cut by the U.S. Federal Reserve, despite recent fears of high tech valuations. Improved investor sentiment followed promising quarterly results from tech firms, including Nvidia and Dell Technologies.

Wall Street continued its rally on Tuesday, bolstered by renewed strength in the tech sector and the increasing likelihood of a December interest rate cut by the U.S. Federal Reserve. All three major U.S. stock indices enjoyed their fourth straight day of gains, overcoming last week's concerns about inflated tech valuations.

Investor confidence was partially restored following upbeat quarterly results and guidance from AI leader Nvidia and AI server manufacturer Dell Technologies. "Today and the half-day on Friday are typically light in trading due to the Thanksgiving holiday, which often brings a dose of optimism from retail investors," remarked Chuck Carlson, CEO of Horizon Investment Services.

Adding to market optimism, a Reuters poll suggests analysts predict a 12% rise in the S&P 500 by the end of 2026, driven by a strong economy, robust tech sector, and supportive Federal Reserve policies.

(With inputs from agencies.)