*NASDAQ, S&P 500 END SHARPLY HIGHER, FUELED BY INFLATION OPTIMISM - $DIA $SPY $QQQ 🇺🇸🇺🇸
"What we're really seeing today is simply a follow-through on yesterday. There's a lot of cash sitting on the sidelines that is being put to work," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.
Investors see an 81% chance of a 50-basis point rate hike in December and a 19% chance of a 75-basis point hike, according to CME Fedwatch tool. Volume on U.S. exchanges was relatively heavy, with 13.5 billion shares traded, compared to an average of 12.0 billion shares over the previous 20 sessions. The S&P 500 growth index, which includes interest rate-sensitive technology stocks, rose 1.6%, beating the value index's gain of 0.3%.
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