The major averages rose once again for the fourth straight day of gains ahead of the Thanksgiving holiday. The Dow Jones Industrial Average rose 314 points or  0.67%, to finish at 47,427.12. The S&P 500 climbed 46 points or 0.69% to 6,812, while the Nasdaq Composite rose 189 points or 0.82% to close at 23,214.

The S&P 500, Nasdaq and the Dow are pacing for their best weeks since late June. The broad-based index is up more than 3% week to date, while the tech-heavy Nasdaq and the blue-chip Dow have risen more than 4% and more than 2% in the weekly period, respectively.

Dell led the AI charge up 5% on earnings. Oracle rose 4% on an upgrade from Deutsche Bank. Even Nvidia was higher. A number of the “Magnificent Seven” were lower like Meta, Amazon and Google.

Interest rates were quiet today even as investors expect a rate cut in the middle of December.  The yield on the 10-year Treasury was down a basis point to 3.99%, while the 30-year bond yield moved down a basis point as well to 4.64%.

Even though we are having a good week, November has proven to be a difficult month for stocks. The S&P 500 and Dow are both marginally lower on the month, while the Nasdaq is down more than 2%.

In the commodity space, oil and gold were modestly higher. Crypto currencies had a good day, rebounding with bitcoin up 3% back to $90,000.

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