US Equities Rise for Third Day – US Market Wrap

US stocks finished Tuesday’s session in positive territory, with traders renewing bets on an interest-rate cut next month while the latest advances in artificial intelligence lifted Big Tech valuations. The S&P 500 rose 0.9% after fluctuating between small gains and losses earlier in the day. The Nasdaq 100, which had fallen as much as 1.3%, ended up 0.6% higher. Fresh U.S. economic data on Tuesday reinforced expectations that the Federal Reserve will lower rates in December, optimism that had already helped propel equities on Monday.

The yield on the U.S. 10-year Treasury declined, holding near 4%, after White House National Economic Adviser Hassett emerged as the leading candidate to become the next Fed chair. The dollar remained under pressure, while Bitcoin slipped below $88,000.

Among notable movers, Alphabet eased from earlier highs that had pushed the company toward a $4 trillion valuation, following a report from The Information that Meta Platforms is in talks to adopt Google’s AI chips. Shares of Nvidia, Advanced Micro Devices, and Oracle remained lower.

Meanwhile, tech names such as Apple, Meta Platforms, and Amazon rose, and gains in the health-care sector helped support the S&P 500.