Stocks Supported by Strength in Chip Makers and AI Stocks

Market Performance - The S&P 500 Index is up +0.11%, the Dow Jones Industrials Index is up +0.06%, and the Nasdaq 100 Index is up +0.29% [1] - December E-mini S&P futures are up +0.09%, and December E-mini Nasdaq futures are up +0.24% [1] Company-Specific Developments - Technology stocks are showing strength, particularly Alphabet, which saw a +5% increase after Berkshire Hathaway disclosed a $4.9 billion stake in the company [2] - Chip makers and AI infrastructure stocks are also contributing positively to the broader market [2] Economic Indicators - The November Empire manufacturing general business conditions survey unexpectedly rose +8.0 to a 1-year high of 18.7, surpassing expectations of a decline to 5.8 [4] - The Bureau of Labor Statistics is set to release the September jobs report and the September real earnings report this week [5] Earnings Season Insights - Q3 corporate earnings season is nearing completion, with 460 of the 500 S&P companies having reported results [6] - 82% of reporting S&P 500 companies exceeded forecasts, indicating the best quarter since 2021, with Q3 earnings rising +14.6%, significantly above expectations of +7.2% year-over-year [6] Market Sentiment - There is a 41% chance of a -25 basis point rate cut at the next FOMC meeting scheduled for December 9-10 [6]