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S&P 500, Nasdaq and Dow rally for third day as Fed rate-cut bets surge amid growing spotlight on Google-Nvidia AI chip battle

The Dow Jones Industrial Average surged 664 points, marking a three-day winning streak, as investor focus shifted to the Federal Reserve's potential December rate cut. This sentiment was further fueled by reports of a potential Fed chair candidate favoring lower rates and comments from New York Fed President John Williams.