U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.67%

Investing.com – Mexico stocks were higher after the close on Wednesday, as gains in the Industrials, Consumer Goods & Services and Consumer Staples sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC gained 0.03%.

The best performers of the session on the S&P/BMV IPC were Industrias Penoles Sab De CV (BMV:PEOLES), which rose 3.38% or 25.40 points to trade at 776.13 at the close. Meanwhile, Controladora Vuela Compania de Aviacion SAB de CV (BMV:VOLARA) added 3.29% or 0.42 points to end at 13.19 and Gentera SAB de CV (BMV:GENTERA) was up 2.90% or 1.24 points to 44.05 in late trade.

The worst performers of the session were Qualitas Controladora, SAB De CV (BMV:Q), which fell 3.26% or 6.09 points to trade at 180.80 at the close. Grupo Bimbo, S.A.B. De C.V. (BMV:BIMBOA) declined 2.53% or 1.50 points to end at 57.70 and Becle SA (BMV:CUERVO) was down 2.18% or 0.48 points to 21.50.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 151 to 80 and 23 ended unchanged.

Gold Futures for February delivery was up 0.75% or 31.35 to $4,196.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.83% or 0.48 to hit $58.59 a barrel, while the February Brent oil contract rose 1.07% or 0.66 to trade at $62.46 a barrel.

USD/MXN was down 0.24% to 18.34, while EUR/MXN unchanged 0.00% to 21.27.

The US Dollar Index Futures was down 0.07% at 99.52.

Investing.com – Canada stocks were higher after the close on Wednesday, as gains in the Materials, Industrials and IT sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite rose 0.90% to hit a new all time high.

The best performers of the session on the S&P/TSX Composite were Aya Gold & Silver Inc (TSX:AYA), which rose 13.47% or 1.99 points to trade at 16.76 at the close. Meanwhile, Endeavour Silver Corp. (TSX:EDR) added 9.79% or 1.08 points to end at 12.11 and Discovery Silver Corp (TSX:DSV) was up 8.79% or 0.56 points to 6.93 in late trade.

The worst performers of the session were iA Financial Corporation Inc (TSX:IAG), which fell 3.28% or 5.58 points to trade at 164.78 at the close. Linamar Corporation (TSX:LNR) declined 2.15% or 1.74 points to end at 79.30 and Boralex Inc (TSX:BLX) was down 1.80% or 0.45 points to 24.54.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 632 to 267 and 67 ended unchanged.

Shares in Discovery Silver Corp (TSX:DSV) rose to 5-year highs; up 8.79% or 0.56 to 6.93.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 6.12% to 13.66.

Gold Futures for February delivery was up 0.76% or 31.80 to $4,197.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.83% or 0.48 to hit $58.59 a barrel, while the February Brent oil contract rose 1.07% or 0.66 to trade at $62.46 a barrel.

CAD/USD was unchanged 0.42% to 0.71, while CAD/EUR unchanged 0.20% to 0.61.

The US Dollar Index Futures was down 0.07% at 99.52.

Investing.com -- The S&P 500 closed higher Wednesday ahead of the Thanksgiving holiday as AI stocks rebounded and risk appetite was boosted by expectations that the Federal Reserve will end the year with another rate cut next month.

At 4:00 p.m. ET (21:00 GMT), the Dow Jones Industrial Average rose 314 points, or 0.7%, the S&P 500 index gained 0.7%, and the NASDAQ Composite climbed 0.8%.

AI stocks climb; Dell’s Q4 outlook impresses

AI-stocks including NVIDIA Corporation (NASDAQ:NVDA) and Oracle Corporation (NYSE:ORCL) climbed, cutting some recent losses, after Deutsche Bank said the bear case for latter "looks bullish," adding that future value of the company doesn’t reflect the value from its partnership with OpenAI.

Dell Technologies (NYSE:DELL) stock rose after the tech giant reporting an impressive outlook after Tuesday’s close.

Underpinned by soaring demand for its AI servers that are often equipped with Nvidia’s chips, Dell said it now expects to post fourth-quarter revenue of $31 billion to $32 billion, compared to LSEG estimates cited by Reuters of $27.59 billion.

Dell also raised its annual financial targets. Fiscal 2026 revenue is seen at $111.2 billion to $112.2 billion, versus a forecast of $105 billion to $109 billion previously. Its guidance for adjusted earnings per share was also lifted to $9.92.

On the flip side, HP (NYSE:HPQ) shares dropped after the computer and printer manufacturer issued disappointing guidance, saying it would cut 10% of its workforce.

Tech and AI-linked stocks have been nursing steep losses through November as investors fretted over a valuation bubble in the sector.

Elsewhere, agricultural equipment firm Deere & Company (NYSE:DE) stock fell after the agriculture machinery manufacturer reported a lower fourth-quarter profit, weighed down by weak margins from its tractors and combine harvesters.

Urban Outfitters (NASDAQ:URBN) stock surged after the clothing retailer announced sales for the third quarter increased over 12% to a record $1.53 billion.

Fed’s Beige Book in spotlight

Increased confidence that the Federal Reserve will cut interest rates next month has boosted sentiment, with a number of Fed policymakers speaking out in support of easing monetary policy over the course of the last few days.

Weaker-than-expected retail sales data for September indicated that the U.S. consumer was struggling, while data released earlier Wednesday showed that initial jobless claims increased by more than 200,000 last week.

Markets are pricing in an over 80% chance the Fed will cut rates by 25 basis points during its Dec. 9-10 meeting, up sharply from the roughly 40% chance seen last week, CME Fedwatch showed.

There will be special attention paid to the release of the Fed’s Beige Book later in the session.

“It provides anecdotal indications about the state of the economy – effectively replacing the delayed third-quarter GDP report,” said analysts at ING, in a note.

In October, the Beige Book signaled that while U.S. economic activity has been broadly stable, there have been emerging warnings of potential softening, particularly in increased layoffs and a pullback in spending by lower- and middle-income households.

The Fed will also receive more cues on inflation before its December meeting, with PCE price index data for September, which was expected to be released this week, being rescheduled to Dec. 5, the Commerce Department’s Bureau of Economic Analysis said on its website.

New Fed chair before Christmas?

Adding to the expectations of lower rates, U.S. Treasury Secretary Scott Bessent said on Tuesday he was concluding a second round of interviews later in the day for a new Federal Reserve leader, and there was a good chance President Donald Trump would announce his pick before Christmas.

White House economic adviser Kevin Hassett is seen as the frontrunner, Bloomberg reported, citing unnamed people familiar with the matter. Hassett, like Trump, has said interest rates should be lower than they are now under the leadership of Fed Chair Jerome Powell.

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Peter Nurse, Ambar Warrick contributed to this article

Investing.com – Colombia stocks were higher after the close on Wednesday, as gains in the Industrials, Services and Agriculture sectors led shares higher.

At the close in Colombia, the COLCAP rose 0.34%.

The best performers of the session on the COLCAP were Interconnection Electric SA ESP (BVC:ISA), which rose 3.26% or 760.00 points to trade at 24,060.00 at the close. Meanwhile, Grupo de Inversiones Suramericana SA Preferred (BVC:SIS_p) added 3.01% or 1,280.00 points to end at 43,780.00 and Grupo Aval Acciones y Valores SA Pref (BVC:GAA_p) was up 2.83% or 21.00 points to 763.00 in late trade.

The worst performers of the session were Banco Davivienda Pf (BVC:DVI_p), which fell 2.17% or 600.00 points to trade at 27,000.00 at the close. Mineros SA (BVC:MAS) declined 1.07% or 160.00 points to end at 14,800.00 and Grupo Argos SA (BVC:ARG) was down 0.35% or 60.00 points to 17,300.00.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 1 to 0.

US coffee C for March delivery was down 0.89% or 3.40 to $379.90 . Elsewhere in commodities trading, US cocoa for delivery in March rose 1.02% or 52.00 to hit $5,151.00 , while the February Gold Futures contract rose 0.75% or 31.05 to trade at $4,196.25 a troy ounce.

USD/COP was down 1.65% to 3,736.50, while BRL/COP fell 0.67% to 700.77.

The US Dollar Index Futures was down 0.07% at 99.52.

Investing.com -- PetMed Express Inc (NASDAQ:PETS) stock rose 3.4% in after-hours trading on Wednesday following the company’s announcement that it extended its shareholder rights plan by one year.

The pet medication retailer’s Board of Directors unanimously approved an amendment to the existing plan, pushing the expiration date from December 2, 2025, to December 2, 2026. All other terms and conditions of the rights plan remain unchanged.

The company stated that the Board adopted the rights plan to protect shareholder investments during a period when it believes the company’s shares "do not reflect the inherent value of the business or its long-term growth potential." The Board also noted concerns about "recent significant accumulations of Company common stock by certain shareholders."

According to the announcement, the plan is designed to enable shareholders to realize long-term value and ensure fair treatment in the event of any proposed takeover. The company emphasized that the plan doesn’t interfere with any sale, merger, or business combination approved by the Board, nor does it prevent the Board from considering offers that recognize PetMed’s full value.

The rights plan is intended to guard against tactics to gain control of the company without paying all shareholders an appropriate premium.

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