Stocks closed sharply higher for a second time in as many days this holiday-shortened trading week, although Nvidia and other semiconductor shares fell on a report Meta Platforms may use Google's AI chips in their data centers.

Investors parsed fresh economic data and doubled down on bets the Federal Reserve will cut interest rates in December.

NASDAQ moved higher amid strong demand for tech stocks. Strategy, which was up by 4.3%, was among the biggest gainers in the NASDAQ index today. The stock gained ground as Bitcoin climbed above the $90,000 level.

The Dow Jones Index has pulled back in the past few days, moving from the year-to-date high of $48,416 to the current $47,457.

Investors have worried about lofty technology valuations amid concerns over steep artificial intelligence spending.

The CNN Money Fear and Greed index showed easing fear levels on Tuesday, while U.S. stocks closed higher with Dow Jones surging 650 points.

NASDAQ gained strong upside momentum as traders rushed to buy tech stocks. Broadcom, which was up by 10.3%, was the best performer in the NASDAQ index today. Micron and Tesla were among the biggest gainers in today’s trading session.

Major stock indexes closed sharply higher Friday, but nevertheless posted weekly losses on concerns about AI spending and valuations of big tech firms.

U.S. stocks settled higher on Friday, with the Dow Jones index gaining more than 1% during the session as a wave of dovish comments from Federal Reserve officials flipped market expectations toward a rate cut next month.

The Dow Jones recovered 800 points from the lows of the session to end with gains of 650 points. The index has now rallied 1,360 points in the last three sessions, recovering 55% of the recent 2,500-point sell-off.

The U.S. stock market rallied. The S&P 500 climbed 1.5% Monday for one of its best days since the summer and added to its jump from Friday, finding some strength following a shaky few weeks.

The Dow Jones (DJIA) is up by more than 1% after the Bureau of Labor Statistics (BLS) released September’s delayed Producer Price Index (PPI)