Market Rally Amid Fed Rate Cut Optimism; Robinhood Leads S&P 500 Gains

Major U.S. equities indexes advanced Thursday afternoon as renewed Optimism about a potential Federal Reserve rate cut next month buoyed investor sentiment. The Dow, S&P 500, and Nasdaq each climbed nearly 1% ahead of the Thanksgiving holiday.

Robinhood Markets (HOOD) surged 10%, topping S&P 500 gainers after announcing plans to expand into prediction markets through its acquisition of LedgerX. The move, executed in partnership with Susquehanna International Group, signals the trading platform's ambition to diversify its offerings.

Tech stocks showed mixed performance. Dell Technologies (DELL) jumped 7% after raising guidance on strong AI product demand, while HP (HPQ) fell 2% following a bleak outlook and cost-cutting measures including layoffs. Workday (WDAY) tumbled 9% as subscription revenue concerns weighed on the HR software provider.

Commodity markets saw crude oil decline while Gold prices edged higher. Treasury yields held steady as the dollar showed divergent performance—gaining against the yen but losing ground to the euro.