Stocks closed sharply higher for a second time in as many days this holiday-shortened trading week, although Nvidia and other semiconductor shares fell on a report Meta Platforms may use Google's AI chips in their data centers.

US stocks surged ahead of Thanksgiving, with Dow Jones up 300 points. Dell Inc. climbed 5.8% while Robinhood Markets Inc. surged 11%.

Investors parsed fresh economic data and doubled down on bets the Federal Reserve will cut interest rates in December.

Major stock indexes closed higher Wednesday ahead of AI darling Nvidia's highly anticipated quarterly results after the bell, with the Dow Jones Industrial Average and S&P 500 snapping four-session losing streaks.

The Dow Jones Index has pulled back in the past few days, moving from the year-to-date high of $48,416 to the current $47,457.

Investors have worried about lofty technology valuations amid concerns over steep artificial intelligence spending.

NASDAQ gained strong upside momentum as traders rushed to buy tech stocks. Broadcom, which was up by 10.3%, was the best performer in the NASDAQ index today. Micron and Tesla were among the biggest gainers in today’s trading session.

U.S. stocks settled lower on Thursday, with the Dow Jones index dipping around 800 points during the session despite federal agencies reopening after the longest government shutdown in U.S. history, as investors aggressively repriced Fed rate-cut expectations following a wave of hawkish remarks from central bank officials.

Stocks climbed again on hopes for a coming cut to interest rates. The S&P 500 rose 0.9% Tuesday after breaking out of a morning lull and is back within 1.8% of its all-time high.

NASDAQ moved higher amid strong demand for tech stocks. Strategy, which was up by 4.3%, was among the biggest gainers in the NASDAQ index today. The stock gained ground as Bitcoin climbed above the $90,000 level.