Wall Street Gains on Friday; S&P 500 Nears Record High

Stocks closed near a record high after a five-day rally, with the S&P 500 rising 0.5% to 6,849, just 42 points shy of its October peak. Concerns over a potential AI bubble persisted, as major tech stocks like Nvidia and Oracle faced significant declines. Market optimism was fueled by expectations of an interest rate cut from the Federal Reserve next month, with traders betting on a nearly 87% probability. Amidst this volatility, retail stocks were watched closely during the Black Friday sales period, with varied performances across the sector.

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