"Wall Street's Rate-Cut Rally Extends as Dow Jones Rises on Key Housing Data"

Wall Street ended higher, with the S&P 500 and Nasdaq posting solid gains, as investors anticipated interest rate cuts from the Federal Reserve in the coming year. The Dow remained flat. The market rally was driven by optimism regarding policy rate cuts in 2024, despite warnings from Fed officials that the central bank has not committed to cutting rates anytime soon. Energy stocks rose on supply concerns following attacks on ships in the Red Sea, while US Steel jumped after Nippon Steel announced a $14.9 billion deal to acquire the company. VF Corp slid after reporting a data breach. Traders are now looking ahead to crucial economic data releases later in the week.