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Informist, Monday, Dec. 1, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices up Fri after Thanksgiving amid gains in tech stocks

 

MUMBAI--0750 IST--Benchmark equity indices in the US ended higher Friday for the fifth straight session on the back of gains in retail stocks and a recovery in technology stocks during a shortened session after Thanksgiving. Expectations that the US Federal Reserve will cut key interest rates at its meeting in December also improved trader sentiment. All the three benchmark indices posted weekly gains, while the Nasdaq Composite ended with monthly losses.

 

"The mood is back to a bit more of a risk-on sentiment in that the market is now 80% to 85?rtain we're going to get a (Federal Reserve) rate cut in just a couple of short weeks," CNBC quoted Brian Mulberry, client portfolio manager at Zacks Investment Management, as saying.

 

The technology-heavy Nasdaq Composite fell almost 1% in November amid concerns about expensive artificial intelligence and technology stock valuations, with traders taking profits and reducing exposure to these stocks.

Shares of Intel surged over 10% and were the S&P 500's top performers in the shortened trading session. The jump came after an analyst suggested that Intel could become a foundry supplier for Apple processors, bolstering rumours earlier in the year about a possible deal with the iPhone maker, Reuters reported. Among other technology companies, shares of chipmaker Advanced Micro Devices rose 1.5% and those of Apple also rose.

 

Following recent dovish comments by several US Federal Reserve officials and media reports suggesting that White House National Economic Council Director Kevin Hassett would be the next Fed chair, Fed fund futures traders are pricing in a higher chance of an interest rate cut by the US Fed. Traders are now pricing in an over 87% probability that the apex bank will cut key rates by quarter percentage points at its policy meeting in December, according to data from CME FedWatch tool. This prediction is higher than a week ago, when traders were pricing in a 71% chance of such a cut.

 

Following are the closing levels of US indices Friday:

 

Index	Level	Change in %
S&P 500	6849.09	0.54
NASDAQ Composite	23365.69	0.65
Dow Jones Industrial Average	47716.42	0.61

 

(Arundathi A R)

 

End

 

US$1 = INR 89.46

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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