Stock market today: S&P 500 closes lower ahead of Thanksgiving

Investing.com -- The S&P 500 closed lower Wednesday, amid a slew of economic data and and cautions trading ahead of the Thanksgiving holiday weighed. .The in-line inflation data continue to keep bets on a December rate cut alive, with the odds now at 69% compared with 65% a day earlier, according to Investing.

The Federal Reserve is likely to cut interest rates in December before switching to a slower pace of cuts in 2025, UBS said in note, stating that US economic growth was likely to remain strong. “While we expect somewhat more moderate GDP growth in the quarters ahead, Fed rate cuts should help to keep the expansion going,” UBS analysts wrote in a note.) tumbled over 12% after the PC manufacturer offered up a disappointing revenue outlook for the current quarter despite bullish commentary from the company on AI sales growth.

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