Wall Street continued its bullish momentum as major technology stocks rebounded.
All three major U.S. stock indexes rose for a fourth straight day as investors shrugged off concerns about the tech sector's high valuations that weighed on their performance last week.
Investors' worries eased after Nvidia reported strong quarterly results, followed by a fourth-quarter earnings forecast from AI server maker Dell Technologies that beat expectations.
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Dell Technologies shares rose 5.8% after posting better-than-expected earnings and providing an upbeat outlook.
The S&P 500 rose 0.69% to 6,812.61, the Dow Jones rose 0.67% to 47,427.12, and the tech-focused Nasdaq rose 0.82% to 23,214.69.
In other developments, rising expectations of a Federal Reserve (Fed) interest rate cut in December have fueled investor buying ahead of the Thanksgiving holiday.
According to CME FedWatch, financial markets are now pricing in an 84.9% probability that the central bank will implement a 25 basis point cut in the Fed funds target rate at the end of its December policy meeting.
Meanwhile, key economic data showed core capital goods orders for September came in above expectations.
Although the Commerce Department report was delayed due to the government shutdown, it signaled stronger corporate spending than economists had expected.
Volume on US exchanges was $14.78 billion, compared to an average of $19.49 billion over the past 20 trading days.
