Wall Street indexes jump as rate cut bets increase but suffer losses for week

Group 1: Federal Reserve Rate Cut Expectations - Traders now see a roughly 70% chance that the Fed will cut its main lending rate by 25 basis points in December, up from a near 37% chance earlier in the day [1][5] - New York Fed President John Williams indicated that the central bank can still cut rates "in the near term" without jeopardizing its inflation goals [5] - Boston Fed President Susan Collins expressed skepticism about the need for another rate cut, contrasting with dovish signals from some peers, which may increase market volatility ahead of the December meeting [5] Group 2: Stock Market Performance - U.S. stocks ended sharply higher, with the S&P 500 gaining 64.89 points (0.99%) to close at 6,603.65 points, the Nasdaq Composite rising 192.83 points (0.87%) to 22,273.08, and the Dow Jones Industrial Average increasing by 505.03 points (1.08%) to 46,257.29 [2][5] - Stocks have shown volatility in recent sessions, reflecting heightened investor anxiety over high valuations in the technology sector and uncertainty regarding the upcoming December Fed meeting [2][5] Group 3: Company-Specific Developments - Shares of Nvidia briefly jumped after reports that the Trump administration is considering allowing sales of the company's H200 artificial intelligence chips to China [5] - Eli Lilly shares ended higher as the company became the first drugmaker to reach a $1 trillion market capitalization [5] - Alphabet shares also closed sharply higher on Friday [5]