U.S. Stocks Surge Amid Fed Rate Cut Hopes

U.S. stocks surged on Friday, nearing record highs as investors anticipate a potential interest rate cut by the Federal Reserve next week. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all saw gains, with technology stocks like Nvidia and Oracle leading the rally. Market optimism was fueled by former New York Fed President Bill Dudley's suggestion of a strong case for a 50-basis point rate cut, despite some inflationary pressures persisting. The Russell 2000 small cap index outperformed due to its sensitivity to interest rate changes. This marks the fourth winning week for U.S. stocks in the last five, supported by easing Treasury yields and positive economic data.