Stocks rallied on Monday as investors digested fresh comments from top Fed officials and AI companies rebounded from last week.

The S&P 500 ended the day higher by 1.6%. The Nasdaq Composite wrapped the trading day up 2.7%, its best day since May. The S&P 500 came within striking distance of achieving the same feat earlier in the session.

The rally came after two top Fed officials voiced support for an interest rate cut at the central bank's next rate-setting meetings, slated for Dec. 9 and 10.

Mary Daly, president of the Federal Reserve Bank of San Francisco, told The Wall Street Journal that she supported lowering rates due to the "vulnerable" labor market. While Daly is not a current voting member of the Fed's Open Market Committee," she has rarely taken a public position at odds w

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