The major US stock indices are closing higher led by the NASDAQ index with a gain of 0.82%.
Looking at the closing levels:
- Dow industrial average is up 314.67 points or 0.67% at 47427.12
- S&P index is up 46.73 points or 0.69% at 6812.61
- NASDAQ index is up 189.10 points or 0.82% at 23214.69.
The indices are up for the 4th consecutive day helped by a shift in the Fed bias led by comments from near Fed Pres Williams. The odds of a Fed rate cut moved up from about 35% last week to close to 85% this week. The Fed interest rate decision will take place on December 10. The Fed will enter their blackout period at the close on Friday.
J.P. Morgan is now saying that they expect the Fed to cut in December.
