Stock market today: Dow, S&P 500, Nasdaq rally into Thanksgiving, notch best 4-day stretch since May

Market Performance - US stocks experienced a notable increase, marking their best four-day streak since May, driven by optimism regarding a potential interest-rate cut next month [1] - The Dow Jones Industrial Average rose by 0.7%, gaining over 300 points, while the S&P 500 also increased by 0.7%. The Nasdaq Composite added nearly 0.8% following significant gains from the previous day [1] Technology Sector - Tech stocks played a crucial role in supporting the market, with Alphabet shares slipping from record highs and Nvidia rising by more than 1%. Both companies experienced a reversal from the previous session amid increasing competition in the AI chip sector [2] - Other major tech companies, including Microsoft, Tesla, and Apple, also saw their stock prices rise [2] Federal Reserve Insights - Investors are closely monitoring factors influencing the Federal Reserve's upcoming policy decisions, particularly in light of a data drought caused by the US government shutdown. The Fed's Beige Book, released on Wednesday, is expected to provide insights into regional economic performance [3] - The Beige Book will be analyzed for indications of consumer spending and labor market conditions as the Fed prepares for its meeting in two weeks [3] Interest Rate Expectations - Markets are currently pricing in an over 80% probability of a quarter-point rate cut in December, following disappointing September readings on retail sales and wholesale inflation [4] - Initial jobless claims unexpectedly fell last week to their lowest level since April, according to data from the Department of Labor [4] Central Bank Leadership - There is increasing speculation regarding the Federal Reserve's leadership, with five finalists on President Trump's shortlist to succeed Chair Jerome Powell next year. Kevin Hassett, the White House's top economic adviser, has emerged as the frontrunner as the selection process nears its conclusion [5]