S&P 500 Extends Gains in Final Minutes of Trading: Markets Wrap
- US stock benchmark sees best three-day advance since November
- Israel rejects a cease-fire plan for Gaza embraced by Hamas
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Stocks saw their best three-day rally since November, fueled by speculation the Federal Reserve will be able to cut interest rates this year.
The S&P 500 rose 1% after topping its average price of the past 50 days — a level seen by many chartists as key in maintaining the positive sentiment. A solid earnings season kept driving optimism after a pullback that made some areas of the market attractive. While the below-average trading volume raised concern about the sustainability of the advance, most industries gained.