The U.S. stock market rallied. The S&P 500 climbed 1.5 percent Monday for one of its best days since the summer and added to its jump from Friday, finding some strength following a shaky few weeks. The Dow Jones Industrial Average rose 0.4 percent, and the Nasdaq composite gained 2.7 percent.
Stocks got a lift from rising hopes that the Federal Reserve will cut its main interest rate again in December, which could boost the economy and investment prices. The market also benefited from strength for stocks caught up in the artificial-intelligence frenzy, particularly for Alphabet.
Trading this week will be shortened by the Thanksgiving holiday on Thursday.
On Monday:
The S&P 500 rose 102.13 points, or 1.5 percent, to 6,705.12.
The Dow Jones Industrial Average rose 202.86 points, or 0.4 percent, to 46,448.27.
The Nasdaq composite rose 598.92 points, or 2.7 percent, to 22,872.01.
The Russell 2000 index of smaller companies rose 44.70 points, or 1.9 percent, to 2,414.28.
For the year:
The S&P 500 is up 823.49 points, or 14 percent.
The Dow is up 3,904.05 points, or 9.2 percent.
The Nasdaq is up 3,561.21 points, or 18.4 percent.
The Russell 2000 is up 184.13 points, or 8.3 percent.
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