Stocks Supported by Fed Rate-Cut Optimism

Market Performance - The S&P 500 Index is up by +0.60%, the Dow Jones Industrials Index is up by +0.62%, and the Nasdaq 100 Index is up by +0.70% [1] - Stock indexes are reaching 1.5-week highs, driven by strength in semiconductor stocks [1] Economic Indicators - Optimism about a potential Fed rate cut is contributing to the positive market sentiment ahead of the Thanksgiving holiday [2] - The chance of a Fed rate cut at the December 9-10 FOMC meeting has increased to 80% from 30% last week [2][6] - Weekly jobless claims fell to a 7-month low of 216,000, indicating a stronger labor market than expected [4] - September capital goods new orders rose by +0.9% month-over-month, exceeding expectations of +0.3% [5] Mortgage Applications - US MBA mortgage applications increased by +0.2% in the week ended November 21, with the purchase mortgage sub-index rising by +7.6% [4]