Wall Street closed higher for the fifth consecutive day to end a volatile month. The S&P 500 rose 0.5% while the Dow Jones climbed 0.6%. The Nasdaq gained 0.7% but ended November down 1.5% due to losses in tech stocks like Nvidia and Oracle.

Investors are optimistic about a potential interest rate cut by the Federal Reserve next month. Recent comments from Fed officials have increased confidence in a rate cut, with traders predicting an 87% probability of a cut in December, according to CME Group data.

Tech stocks experienced mixed performances in November, with Alphabet rising nearly 14% thanks to excitement around its Gemini AI model. Meanwhile, some stocks like Nvidia and Oracle saw double-digit losses, influencing the market’s overall volatility.

Retail stocks were in focus as investors awaited Black Friday sales results. Macy’s fell 0.3%, Kohl’s gained 1.4%, and Dick’s Sporting Goods dropped 0.5%. Specialty retailers like Abercrombie & Fitch and American Eagle Outfitters saw mixed gains for the month.

Pharmaceutical and travel-related companies saw strong monthly gains, with Eli Lilly, Merck, Marriott, and Expedia all rising over 20% in November. Amid tech stock volatility, traders diversified their portfolios into these sectors, contributing to market stability.

A technical issue at the Chicago Mercantile Exchange caused a halt in Dow Jones, S&P 500, and Nasdaq futures trading. The issue was linked to an outage at a CyrusOne data center, leading to hours of disruption before trading resumed.

Global markets saw mixed results, with Germany’s DAX and France’s CAC 40 rising slightly despite inflation concerns. In Asia, Japan’s Nikkei 225 closed 0.2% higher, while South Korea’s Kospi dropped 1.5% due to a decline in industrial production.

Read more at Yahoo Finance: US stocks rise for a fifth straight day to close out a volatile month