Wall Street’s main indexes rose for a fourth consecutive session on Wednesday, as investors parsed fresh economic data and doubled down on bets the Federal Reserve will cut interest rates in December.

The Dow Jones Industrial Average surged 372 points, or 0.8%, to 47,484. The Nasdaq gained 214 points, or 0.9%, and the S&P 500 gained 0.8%.

Mega-cap stocks led gains across the board, pushing the S&P 500 and the Nasdaq to two-week highs, while the Dow was near its two-week peak.

The Dow rose more than 300 points on Wednesday, nearing a two-week high. Santa Claus and elves visited the New York Stock Exchange on Wednesday ahead of the Macy’s Thanksgiving Day parade. Getty Images

All S&P 500 sub-sectors were in positive territory, barring communication services which was weighed down by a

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