The S&P 500 and Nasdaq have reached their highest levels since August, as Nvidia and Microsoft set new highs

On Monday, stocks finished in the green for the third week in a row, as prospects for a slowing of US interest-rate rises remained.

The S&P 500 (GSPC) finished 0.7% higher, while the Dow Jones Industrial Average (DJI) rose more than 0.5%, or approximately 200 points. The tech-heavy Nasdaq Composite (IXIC) finished the first day of the abbreviated trading week up more than 1%.

Stocks have remained high as indicators of lower inflation have led the market to conclude that the Federal Reserve is finally done rising interest rates. The focus is now on when a rate decrease would occur, with traders pricing in a 30% likelihood as soon as March.

The publication of minutes from the Fed’s most recent meeting on Tuesday may supply grist for that discussion. However, with little on the data calendar and the Thanksgiving holiday on Thursday, trade might remain subdued.

The chipmaker’s latest earnings report sent stocks soaring as the AI hype cycle started in, so all eyes will be on Nvidia’s financial results, which are also coming Tuesday. On Monday, Nvidia (NVDA) finished at a record high, with shares rising more than 2%.

Microsoft (MSFT) also finished at an all-time high following the departure of OpenAI CEO Sam Altman, which sent shockwaves across Wall Street.

According to Microsoft CEO Satya Nadella, Altman and fellow OpenAI co-founder Greg Brockman have joined Microsoft to oversee a new advanced AI research team after a weekend of back-and-forth.

Risk disclaimer:

Please note that this article does not offer any instructions or suggestions regarding investment decisions. It is important for you to conduct your own research or seek professional advice from a qualified professional before conducting an investment decision.