U.S. Markets Rebound Midday as Tech Leads “Turnaround Tuesday” Amid Rate Cut Hopes

Market Overview - U.S. equity markets are experiencing a strong rebound, indicating a "Turnaround Tuesday" after a slow start to December, driven by optimism around Federal Reserve interest rate cuts and strong technology sector performance [1][4] - All three major U.S. stock indexes are trading higher, with the Nasdaq Composite leading at approximately 0.79% gain, followed by the S&P 500 at 0.32% and the Dow Jones Industrial Average at 0.05% [2] Technology Sector Performance - The Nasdaq Composite's notable gain reflects renewed investor interest in growth-oriented technology companies, following a previous sell-off attributed to weakness in tech stocks [2][3] - MongoDB shares surged by approximately 26% after reporting stronger-than-expected third-quarter earnings and raising annual guidance, driven by demand for its cloud database platform, Atlas, in the AI sector [8] - Nvidia shares continued to perform well, advancing further after announcing an expanded partnership and a $2 billion investment in Synopsys, which also saw a positive impact on its stock [12] Cryptocurrency Market Influence - Bitcoin is showing signs of recovery, trading around $89,300, up from a low below $85,500, contributing to the broader market's positive momentum [3] Upcoming Economic Events - The Federal Reserve's Monetary Policy Committee meeting on December 9-10 is a key focus, with an 87% probability of another rate cut being priced in by market participants [4] - Investors are awaiting crucial economic reports, including the November ADP employment report and the delayed September Personal Consumption Expenditures Price Index, which will provide insights into the U.S. economy [5] Corporate Developments - Credo Technology Group Holding shares rose over 17% after reporting stronger-than-expected second-quarter revenue, attributed to AI training and inference [12] - Boeing shares climbed more than 7% following positive comments from its CFO regarding anticipated increases in 737 and 787 deliveries in 2026 [12] - Apple is reorganizing its artificial intelligence division, including hiring an executive from Microsoft, indicating strategic shifts in its AI leadership [12] - Costco is suing the Trump administration over tariffs, seeking a refund contingent on a Supreme Court ruling [12] - Bayer shares surged after the White House expressed support for a Supreme Court review related to its Roundup weedkiller, potentially reducing future liabilities [12]