Stock indexes are up today, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 all showing gains. Semiconductor stocks are boosting the overall market. Optimism about a Fed rate cut is driving stocks higher ahead of Thanksgiving. Weekly jobless claims hit a 7-month low, and capital goods orders rose more than expected.

US mortgage applications rose slightly, with purchase mortgages up and refinancing mortgages down. Initial unemployment claims fell unexpectedly to a 7-month low. Corporate earnings exceeded forecasts, with Q3 earnings up by 14.6%. Overseas markets are mixed, with Euro Stoxx 50 up, Shanghai Composite down, and Nikkei up.

Interest rates are down slightly, with 10-year T-notes lower as stocks strengthen. European bond yields are mixed. ECB member sees balanced risks to growth. Swaps predict a low chance of an ECB rate cut. Semiconductor stocks like ASML Holding NV and Marvell Technology are driving market gains.

Urban Outfitters reports strong sales, while Autodesk raises its billings estimate. Robinhood acquires a derivatives exchange, boosting its stock. Oscar Health sees an upgrade, and Dell Technologies raises revenue forecast. Amentum Holdings rises after an upgrade, while Nutanix and Ambarella see declines in revenue forecasts.

Zscaler and Workday also report lower revenue forecasts, leading to stock declines. Deere & Co and HP Inc forecast lower earnings, impacting their stocks. Earnings reports show positive trends for many companies. Markets are reacting to economic data and corporate performance, with semiconductor stocks leading the way.

Read more at Nasdaq: Stocks Supported by Fed Rate-Cut Optimism