Market Recovery - The stock market's recovery aligns with predictions made on November 23, with the Dow Jones Industrial Average rising over 4%, the S&P 500 gaining nearly 5%, and the Nasdaq Composite surging around 6% during the Thanksgiving week [2] - The S&P 500 has risen above its 50-day moving average, indicating a potential climb to 7,000 by year's end [3] - The recent rebound in the S&P 500 follows a period of market nervousness, particularly around AI stocks, with the pullback viewed as a buying opportunity [6] Alphabet's Rise - Alphabet Inc. saw its stock price increase nearly 8% over the previous five trading sessions following the announcement of its new language model, Gemini 3, which reportedly outperforms competitors [4] - In contrast, Nvidia Corp. has not fully recovered, with its stock down by over 2% over the previous five trading sessions [4] Fed Rate Cut Optimism - NY Fed President John Williams hinted at a possible interest rate cut during the upcoming FOMC meeting on December 10, further fueling investor confidence [5] - The Nasdaq shows potential for reaching a new record high with a 2.5% increase [5] Market Sentiment - Yardeni has noted the potential for a stock market meltup, reminiscent of the late 90s tech boom, driven by factors like soft inflation and a determined Federal Reserve [7] - The market's recovery aligns with Yardeni's views on the comparative value of gold and bitcoin, suggesting a shift in investor sentiment towards traditional assets amidst digital asset volatility [8]