US Stocks Extend Gains as Tech Stocks Bounce, Rate Cut Bets Rise

This Thanksgiving season is projected to be the busiest in 15 years, with 73 million Americans expected to travel by car and nearly 18 million passing through TSA checkpoints. This surge in travel is influenced by factors such as the recent government shutdown, which has impacted consumer confidence and spending habits.

UBS Securities has indicated that the recent selloff in US stocks may have reached its conclusion, potentially paving the way for a year-end rally. This assessment comes as market conditions appear to stabilize, suggesting a shift in investor sentiment towards US equities.

President Trump highlighted Walmart's promotion of lower grocery prices as evidence of his administration's success in reducing the cost of living ahead of Thanksgiving. However, economists caution that holiday food prices are unpredictable and largely depend on consumer shopping behavior.

This year's Thanksgiving feast is expected to be more affordable for consumers, with lower prices for turkey, stuffing, and cranberries, although sweet potato prices have surged significantly.