Stocks Rise, Tech Leads as Rate-Cut Bets Keep Rally Alive | Closing Bell

Market Overview - The market is experiencing a significant rally as November comes to a close, with the S&P 500 nearing the point of erasing its losses for the month [2][4] - Investor optimism is largely driven by expectations of a potential rate cut by the Federal Reserve, with a 90% chance anticipated for a 25 basis point cut at the upcoming FOMC meeting [3][18] S&P 500 Performance - The S&P 500 saw a broad-based rally, with 372 stocks rising compared to 129 declining, indicating strong market breadth [4][7] - Major indices, including the Dow Jones Industrial Average and NASDAQ, also posted gains, with the Dow up over 300 points (approximately 0.7%) and the NASDAQ up about 0.8% [5][6] Sector Performance - Information technology was the top-performing sector, contributing significantly to the day's gains, followed by financials, consumer discretionary, and consumer staples [8] - Conversely, healthcare and communications services underperformed, with Alphabet's stock contributing to the decline in communications services [9][16] Notable Company Performances - Dell Technologies was a top gainer, finishing up 5.8% after reporting strong earnings and raising its full-year forecast, driven by a surge in AI server orders totaling $12.3 billion [10][11] - Urban Outfitters saw a significant increase of over 13% following positive earnings reports from peers, with its stock up approximately 40% year-to-date [12][13] - Robinhood Markets gained about 11% after announcing a deal to acquire a majority stake in a derivatives exchange, marking a 235% increase year-to-date [14] Decliners - Deere and Company experienced a decline of 5.7% due to a weak forecast for the upcoming year, reflecting challenges in the U.S. farm economy [15] - Alphabet Inc. was the largest decliner in the S&P 500, down 1.1%, giving back some of its recent gains despite a 70% increase year-to-date [16][17] - Zscaler fell 13%, marking its largest drop in over a year after forecasting annual revenue that slightly exceeded estimates [17]