The S&P 500, Dow Jones, and Nasdaq 100 are all up today, hitting 2-week highs. Semiconductor stocks are driving gains, while energy producers like WTI crude are up over 1%. Trading was lighter due to a CME technical outage. The chance of a Fed rate cut in December is now at 84%.

Q3 earnings season is ending strong, with 83% of S&P 500 companies beating forecasts. Overseas markets are up, with Euro Stoxx 50 and China’s Shanghai Composite rising. T-notes fell as stocks gained, with the 10-year yield at 4.025%. European bond yields are also higher today.

Eurozone inflation expectations rose unexpectedly, German retail sales fell, and CPI increased. The ECB is unlikely to cut rates in December. Chip makers like Intel and Micron are boosting the market. Energy stocks like Devon Energy and ConocoPhillips are up, along with cryptocurrency-exposed stocks. SanDisk Corp is up, Oracle down after warnings about borrowing.

Earnings reports for today include Compass Diversified Holdings, Nordic American Tankers Ltd, and SR Bancorp Inc. Market outlook remains positive, with a focus on Fed rate cut expectations and strong corporate earnings.

Read more at Nasdaq: Stocks Climb on Strength in Chip Makers and Energy Producers