U.S. Stocks Close Midweek with Gains
The Dow Jones Industrial Average climbed 0.67%, advancing 314.67 points to settle at 47,427.12.
The Nasdaq surged 0.82%, gaining 189.1 points to reach 23,214.69, while the S&P 500 rose 0.69%, adding 46.73 points to finish at 6,812.61.
The Volatility Index (VIX), widely recognized as the "fear index," declined 7.38% to 17.19, signaling diminished market anxiety.
Major indexes pushed higher as market participants increasingly priced in another Federal Reserve rate reduction in December. The CME FedWatch tool now indicates investors assign an 85% probability to a cut next month.
Market analysts observed that likelihood of a 25-basis-point reduction has strengthened following accommodative comments from multiple Fed officials, noting that recent economic indicators provide the central bank with flexibility to continue easing monetary policy.
Separately, the Fed's "Beige Book" economic assessment report revealed minimal shifts in national economic activity.
The survey indicated that aggregate consumer spending had weakened further, accompanied by modest deterioration in employment conditions.
On the economic data front, initial unemployment claims in the United States dropped by 6,000 during the previous week to 216,000, falling short of analyst projections.
New durable goods orders increased 0.5% in September compared to the prior month, precisely meeting market forecasts.
In corporate news, shares of Google parent company Alphabet, which experienced robust appreciation last week following the debut of its advanced AI model Gemini 3, retreated 1% during Wednesday's session.
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