Tech Stocks Surge Ahead Of Thanksgiving, Robinhood Rallies 10%: What's Moving Markets Wednesday?

Stocks were mainly higher at midday as Wall Street traded higher ahead of the Thanksgiving holiday.

Investors are likely optimistic as markets enter what is typically the strongest stretch of the year for corporate sales.

The tech-heavy Nasdaq 100 led major averages with a 1.1% gain, while the S&P 500 and Dow hovered just below flat.

Fresh labor-market data helped lift sentiment. Initial jobless claims for the week ending Nov. 22 came in at 216,000 — down from 222,000 and below expectations of 225,000 — signaling that layoffs are easing and consumers remain supported.

All eleven S&P 500 sectors were positive by midday, led by technology, materials and consumer staples.

The CBOE Volatility Index, Wall Street's "fear gauge," extended its decline for a fourth straight session, falling more than 5% as risk-off sentiment continued to fade.

Earnings movers added further momentum. Dell Technologies Inc. (NYSE:DELL) climbed 6.7% after strong AI server demand and raised guidance.

Robinhood Markets Inc. (NASDAQ:HOOD), meanwhile, surged 10% after announcing plans for a futures and derivatives exchange to broaden its prediction-market offerings.

Precious metals were also stronger. Gold is up 0.9% to $4,170 per ounce and silver nearly 3% higher at almost $53.

Crypto markets showed tentative signs of a rebound. Bitcoin (CRYPTO: BTC) rose 3% to $89,000.

Wednesday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.9% to $626.32.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.9% to $475.45.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 1.1% to $615.49.
• The iShares Russell 2000 ETF (NYSE:IWM) gained 0.9% to $247.32.
• The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 1.5%; the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, up 0.1%.

Russell 1000’s Top 5 Gainers On Wednesday

Russell 1000’s Top 5 Losers On Wednesday

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