Wall Street Rises for a 4th Straight Day

US stocks rose Wednesday for a fourth straight day, led by solid gains for technology companies.

• The S&P 500 rose 46.73 points, or 0.7%, to 6,812.61.
• The Dow Jones Industrial Average rose 314.67 points, or 0.7%, to 47,427.12.
• The Nasdaq composite rose 189.10 points, or 0.8%, to 23,214.69.

Nvidia, Microsoft, and Broadcom were among the tech stocks that drove the market's gains, the AP reports. Financial services companies also fared well. Robinhood posted the biggest gain in the S&P 500, 10.9%, after saying it planned to expand its prediction markets business with the launch of a new futures and derivatives exchange next year.

The rally was broad, with most of the sectors in the benchmark S&P 500 index moving higher and gainers outnumbering decliners by nearly 4 to 1 on the New York Stock Exchange. Dell Technologies climbed 5.8% after saying it has received record orders for its artificial intelligence servers. Dell and other technology companies had fallen earlier in the month as investors worried the prices for their stocks had gotten too frothy amid the frenzy over AI. Nvidia, the market's most valuable company, rose 1.4%. Microsoft rose 1.8% and Broadcom added 3.3%.

Urban Outfitters joined a host of other retailers this week in reporting earnings that exceeded Wall Street forecasts, and its shares jumped 13.5%. Petco surged 14.5% a day after the pet supply chain delivered mixed quarterly results but raised its fiscal year earnings outlook. On the downside, shares of Deere dropped 5.7% after the farm equipment company issued a downbeat forecast, citing pressure from tariffs.

The market's recent rebound, fueled by investor hopes for another Federal Reserve interest rate cut in December, has helped erase most of the major indexes' losses following a bout of selling earlier this month. "It's a tech-driven, buy-the-bounce kind of response to the very swift sell-off that we saw," says Sam Stovall, chief investment strategist at CFRA. "Investors are of the mind that this pullback has run its course and that it's going to lead to a December dash to the finish line." US markets will have a shortened trading week due to the Thanksgiving holiday, closing on Thursday and opening for shorter hours on Friday.