Stocks Climb on Strength in Chip Makers and Energy Producers

Market Performance - The S&P 500 Index is up by +0.39%, the Dow Jones Industrials Index is up by +0.61%, and the Nasdaq 100 Index is up by +0.46% [1] - Stock indexes are reaching 2-week highs, supported by strength in semiconductor stocks and climbing energy producers, with WTI crude up more than 1% to a 1-week high [2] Trading Activity - Trading activity was lighter than normal due to a technical outage at the Chicago Mercantile Exchange, which disrupted trading since Thursday evening [3] - Market activity was expected to be subdued with only half a day of trading following the Thanksgiving holiday [3] Economic Outlook - Optimism about a potential Fed rate cut has boosted stocks, with market sentiment improving as bond yields have fallen amid weak US economic news and dovish Fed comments [4] - The chance of a Fed rate cut at the December 9-10 FOMC meeting has increased to 84% from 30% last week [4][5] Corporate Earnings - Q3 corporate earnings season is concluding, with 475 of the 500 S&P companies having reported results [6] - 83% of reporting S&P 500 companies exceeded forecasts, marking the best quarter since 2021, with Q3 earnings rising by +14.6%, significantly above expectations of +7.2% year-over-year [6]