Stocks surged in the afternoon session as investor optimism around artificial intelligence drove market gains. Tech stocks focused on AI, like Nvidia and Broadcom, led the Nasdaq and S&P 500 higher. The rally was supported by a decrease in the November consumer price index report, sparking hopes for future rate cuts. Among the impacted stocks was Palantir Technologies, up 158% this year. The company’s shares are volatile, with today’s move indicating the market sees the news as significant but not game-changing. The cooling inflation data has reignited hopes for Fed rate cuts, making tech stocks more attractive.

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