Today's Market: S&P 500 and Nasdaq Climb 1% as Rate-Cut Hopes Build Into Holiday

The S&P 500 and Nasdaq indices rose by 1% as investors' hopes for a potential rate cut by the Federal Reserve grew, coinciding with the holiday season. This rally was fueled by cooling inflation claims and softer orders, indicating a possible slowdown in the economy. The market's positive sentiment suggests a potential shift in investor expectations.