US Stock Market Today: Wall Street Trades Near Record Highs as Rate-Cut Bets Build – December 4, 2025 (11:30 a.m. ET)
U.S. stocks hovered near record highs late Thursday morning, with the Dow, S&P 500, and Nasdaq little changed after early gains faded. Investors weighed expectations of a Federal Reserve rate cut next week against mixed labor market data. The S&P 500 sat about 0.5% below its record, while the Dow and Nasdaq were within 1–2% of their peaks.