Wall Street rose slightly on Friday in conjunction with the Thanksgiving holiday in the United States (US), as the market remained optimistic about the prospect of interest rate cuts in the coming months.
Futures rose after Wall Street recorded a significant rebound this week, supported by fresh bets that the Federal Reserve (Fed) will cut interest rates next month.
The S&P 500 index rose 0.1% to 6,836.50 points, the Dow Jones rose 0.15% to 47,559.0 points, while the technology-focused Nasdaq jumped 0.1% to 25,331.0 points.
Attention is now turned to several economic data to be published next week, which will be among the last official reports by the Fed before its meeting on December 9 and 10.
According to CME FedWatch, there is a possibility that the central bank will cut interest rates by 25 basis points at its December 9-10 meeting, increasing to 32.0% from last week.
Meanwhile, technology stocks continued to lead the market despite their inconsistent performance.
The largest chipmaker, Nvidia, lagged slightly after Google (Alphabet) announced plans to develop its own artificial intelligence (AI) chips, thus increasing competition in the chip manufacturing industry.
Next week's focus will be on several key economic data, including the PCE Price Index and the Fed's preferred inflation gauge, which are scheduled for release on December 5.
The report for September was delayed due to the prolonged government shutdown.
