Technology stocks surged, Wall Street maintained its four-day winning streak.

At the close of trading on November 26th (early morning of November 27th, Vietnam time), the US stock market continued its bullish momentum with a four-session winning streak. Positive sentiment spread across all sectors, particularly technology and large-cap stocks, as investors increased their positions ahead of Thanksgiving and expectations of an early Fed interest rate cut.

Green spread across Wall Street as expectations of a Fed interest rate cut pushed stocks higher.

All three major indices rose sharply. The Dow Jones Industrial Average closed the trading day up 314.67 points, or 0.7%, to 47,427.12. The S&P 500 gained 46.73 points, also 0.7%, to 6,812.61 – its highest level in weeks. The technology-heavy Nasdaq Composite led the gains, rising 189.10 points, or 0.8%, to 23,214.69. The Russell 2000, representing smaller companies, also rose 0.8%, reflecting widespread positive sentiment rather than concentrated in a few specific sectors.

The main driving force of today's session continued to come from the technology sector, the pillar of Wall Street's growth. Shares of Nvidia, Microsoft, and Broadcom all surged, becoming the most important impetus for the market. Positive sentiment towards technology companies was reinforced after Nvidia's better-than-expected earnings report, as well as the optimistic fourth-quarter growth outlook released by Dell Technologies.

The resurgence of technology stocks helped investors somewhat forget concerns about high valuations, which had caused the market correction last week. This upward momentum also pulled the S&P 500 and Nasdaq back to their short-term highs, contributing significantly to the four-session recovery.

Robinhood shares were a standout performer, surging 10.9% and leading the S&P 500 after the company announced plans to expand into the forecasting market by opening a new trading floor. The financial sector generally traded positively as expectations of further interest rate cuts continued to rise.

According to CME's FedWatch tool, the market is currently pricing in an 84.9% probability that the Fed will cut interest rates by 25 basis points at its December meeting. This is considered the biggest catalyst driving the market's recent rally.

Chuck Carlson, CEO of Horizon Investment Services, believes the market's euphoric performance in the days leading up to Thanksgiving is typical due to slightly reduced trading volume and optimistic investor sentiment. However, he asserts that the strongest driving force remains the expectation that the Fed will begin a new easing cycle in the near future.

A Reuters survey shows analysts forecast the S&P 500 could rise an average of 12% between now and the end of 2026, thanks to a strong US economy , continued growth leadership from the technology sector, and increasingly supportive monetary policy.

Economic reports released on November 26th also contributed to bolstering market sentiment. New jobless claims fell to 216,000, lower than forecasts, indicating a stable labor market. In addition, core capital goods orders rose 0.5%, exceeding expectations and reflecting continued positive business spending.

Although the order data was reported late due to the government shutdown, the figures still show that US business investment is much stronger than analysts had predicted.

However, some indicators also suggest a certain divergence. While the number of new unemployment benefit claims has decreased, the number of claims continues to trend upward, consistent with recent surveys of weakening consumer labor expectations.

Airlines saw brisk trading on what is considered the busiest day of the year for travel. The S&P 1500 Airlines Index rose 3%, generally seen as a positive sign for consumer health and a forecast of a favorable year-end shopping season.

However, retailers are offering mixed forecasts. While holiday sales are expected to surpass $1 trillion for the first time, recent warnings from Walmart and Target suggest that purchasing power may be uneven, depending on the ability to control costs and profit margins.

Conversely, some stocks came under significant downward pressure. Workday lost 7.9% after reporting lower-than-expected third-quarter registered revenue. Deere & Co. fell 5.7% after issuing a lower-than-expected annual profit forecast, citing the impact of tariffs and weakening demand for heavy machinery.

Trading volume on US exchanges reached 14.78 billion shares, lower than the 20-day average of 19.49 billion shares, reflecting the impact of the upcoming Thanksgiving holiday.

On the NYSE, the number of advancing stocks significantly outnumbered advancing stocks, with a ratio of 3.37:1. The Nasdaq also recorded a ratio of 2.13:1 favoring gainers. The S&P 500 recorded 34 new 52-week highs, while the Nasdaq had 133 new highs and 48 new lows.

Despite the current upward momentum being quite solid, analysts warn that economic data needs to be closely monitored in the coming weeks. If labor, consumer spending, or inflation figures continue to heat up, the Fed may be forced to maintain higher interest rates than expected, a factor that could significantly impact market sentiment.

In addition, the shortened trading week due to the holiday narrows the price range, and the upcoming earnings season will determine the market's next direction.

The November 26th session closed in positive territory across the board, reinforcing confidence in the recovery trend. However, investors still need to maintain necessary caution as many macroeconomic variables still pose potential risks.

Source: https://thoibaonganhang.vn/co-phieu-cong-nghe-but-pha-pho-wall-duy-tri-chuoi-4-phien-tang-lien-tiep-174255.html