US markets extended gains for a fourth straight session on Wednesday, driven by a sharp repricing of Fed policy that now puts the odds of a 25bp December cut above 80%. The market’s performance was further influenced by speculation surrounding the next Fed chair, with investors viewing a potential appointment as aligning with expectations for lower rates.
- The Dow increased 0.8%.
- The market pushed into the Thanksgiving week.
- US markets will be closed on Thursday for the Thanksgiving holiday.
The increase in the asset’s value suggests a positive response to expectations of easier monetary policy. The market’s positive momentum, as it approaches the holiday, indicates a bullish sentiment among investors, although trading will pause for the Thanksgiving holiday.