Closing Bell: Stocks Rise Ahead of Thanksgiving

Stocks rose on Wednesday, allowing the major averages to log their fourth straight day of gains ahead of the Thanksgiving holiday. The S&P 500 (SPX) was up 0.69% while the Nasdaq-100 (NDX) rose 0.87%. The Dow Industrials Index ($DJI) was up 315 points or 0.67% on Wednesday while the small-cap RUT rallied 0.82%.The S&P 500, Nasdaq and the Dow are pacing for their best weeks since late June.

• The broader market’s gains were bolstered by artificial intelligence player Oracle (ORCL), which jumped 4% after Deutsche Bank reaffirmed its bullish stance on the name. Nvidia (NVDA) shares moved up 1.3%, recovering from a recent pullback, while fellow “Magnificent Seven” member Microsoft (MSFT) traded almost 2% higher.
• Bitcoin Futures (/BTC) rallied 2.8% and are now back near the 90K level after trading near 80K on Friday. This helped push up Coinbase (COIN) shares by over 4%.

Alphabet (GOOGL) shares paused its recent rally and was down 1.08% on Wednesday. The stock is still up 6.8% this week on the back of positive sentiment around its Gemini 3 release and potential deals for its TPU chips from Meta Platforms (META).

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