Indexes close higher as data keeps Fed rate cut expectations elevated

US stocks closed higher on Dec 3, driven by expectations of a Federal Reserve rate cut next week, following mixed economic data. The Dow rose 0.86%, S&P 500 gained 0.30%, and Nasdaq increased 0.17%. Microsoft shares fell 2.5% amid AI sales quota reports. Energy sector led gains, while tech lagged. Rate cut expectations rose to 89%. Marvell Technology and Microchip Technology saw significant stock increases. Advancing issues outnumbered decliners on NYSE and Nasdaq. Volume was 15.44 billion shares.