Stocks rose for a fourth straight session on Tuesday, as artificial intelligence names continued to outperform during a holiday-shortened week.
The Dow Jones Industrials leaped 79.73 points to conclude Tuesday at 48,492.41.
The S&P 500 took on 31.3 points to 6,909.79, an all-time high.
The NASDAQ jumped 133.02 points to 23,561.84. All three major averages were enjoyed their fourth straight winning session.
Gains in tech giants Nvidia, pointed higher 3%, while Broadcom hiked 2%, lifting the index.
Traders continued to bet the Federal Reserve will lower its benchmark rate next year even after the release of new economic data that came in well above expectations.
The Commerce Department reported that the U.S. economy expanded at 4.3% pace in the third quarter, much better than the 3.2% estimate that economists polled by Dow Jones had forecast.
The report — which was postponed from its initially planned release date of Oct. 30 because of the record-breaking U.S. government shutdown – might have spooked investors into believing an interest rate cut from the Federal Reserve in early 2026 is less likely.
Despite Fed funds futures traders increasing their bets slightly following the report that the central bank would hold rates steady at its January and March meetings, they were still largely pricing in two rate cuts by the end of next year.
The New York Stock Exchange will close early on Wednesday at 1 p.m. ET on Christmas Eve and will be closed Thursday for Christmas Day.
Prices for the 10-year Treasury gained back ground, lowering yields back to Monday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices regained 45 cents to $58.46.
Gold prices vaulted $55.20 to $4,524.60
