Wall Street Heads Into Thanksgiving

Wall Street is rolling into the holiday in a good mood. The Dow, the SPX500, and the Nasdaq have all stacked up four straight winning sessions, turning what started as a shaky November into a surprisingly strong Thanksgiving week.

Big technology names helped flip the switch. After weeks of choppy trading, investors stepped back into the sector, lifting the major indexes and putting the Nasdaq back in the driver’s seat. Traders talk about “holiday drift” this time of year, when markets quietly float higher, but this move has had more energy than that.

Underneath the surface, the tone has shifted as well. The worry about more rate hikes has faded and the conversation is now about when the Federal Reserve might finally ease. That change in mindset has helped push stocks higher day after day, giving the market its best short stretch in months just as the country heads home for turkey and football.