Post-Election Rally Resumes
U.S. stocks finished higher last week with gains in consumer sectors and a resurgence among the so-called Trump trades among the biggest gainers. Corporate earnings were again in focus with quarterly results beating expectations for the leading AI chipmaker while separately, several Fed policymakers said economic data dependency will guide their December rate decisions. The odds of a 0.25% Fed rate cut in December declined a second week, easing to 55% from 60%.
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