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US stocks rose on Wednesday as Nvidia (NVDA) and other chip stocks bounced higher, investors shifted their bets on a Fed rate hike next month, and cryptocurrencies fell. The stock market is open on Veterans Day; however, the bond market is closed. The Dow Jones Industrial Average (^DJI) wavered near the flat line, while the S&P 500 (^GSPC) climbed 1%. The tech-heavy Nasdaq Composite (^IXIC) added 1.5%. As Anthropic's (ANTH.PVT) hotly anticipated IPO draws nearer, the AI trade remains front and center, particularly after the midterm elections have brought the country to a crossroads on the data center build-out.
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