The three major indexes rose collectively, with the Dow Jones up 0.66%, the Nasdaq up 0.57%, and the S&P 500 Index up 0.29%.

Salesforce and Marvell Technology led the Dow Jones. Salesforce announced revenue exceeding expectations for the third quarter. Marvell Technology reported profit above expectations and provided strong guidance for the fourth quarter performance.

Compared to the strong rally after Trump's victory in early November, the US stock market started December neither hot nor cold. However, George Smith, a portfolio strategist at LPL Financial, believes that the US stock market may regain momentum in December.

He said: "In December, the upward momentum of the US stock market may continue, as historically, the stock market tends to perform well in this month. Historically, stock market gains in December usually occur in the latter part of the month."

Wells Fargo & Co also made optimistic forecasts for the US stock market. The Wells Fargo & Co stock strategist team, led by Christopher Harvey, released a 2025 stock market outlook report on Tuesday, predicting that the S&P 500 Index will rise to 7007 points by the end of 2025, the highest target among Wall Street strategists.

Tom Lee, Chief Investment Officer of Fundstrat Capital, predicted on Monday that the S&P 500 Index will rise to 6300 points by the end of 2024. While the Bank of America Securities division recently forecasted the S&P 500 Index to reach 6666 points by the end of 2025.

On Wednesday's economic data, research by ADP and the Stanford Digital Economy Lab shows that private sector employment in the US increased by 0.146 million in November. The average forecast from 25 economists was 0.15 million, with a predicted range of 0.1 million to 0.19 million. Analysts surveyed by Dow Jones expect the number to be 0.163 million.

In October, ADP private sector employment in the United States increased by 0.184 million positions.

Analysts say that in November, the employment situation in private companies in the United States remained robust, further proving that the labor market is slowing down but resilient.

The ADP report shows that employment growth varies across industries. Education, medical care, and construction industries lead the way, while manufacturing employment sees the largest drop in over a year. Recruitment in leisure and financial services industries is also relatively weak.

ADP data further indicates that despite continued price pressures and high borrowing costs, there is still demand for workers in the labor market. This is good news for the Federal Reserve as they no longer need to view the labor market as a source of inflation.

Jerome Powell, the Chair of the Federal Reserve, will speak in New York on Wednesday afternoon. Investors will evaluate whether the Fed will ease policy in December based on his speech. Daly, President of the San Francisco Fed, said on Tuesday that a rate cut this month is uncertain, but still a possibility.

According to the CME Group's 'FedWatch' tool, the current market prices the probability of the Fed maintaining the current interest rate in December at 26%, with a 74% probability of a cumulative 25 basis point rate cut. The probability of keeping the current interest rate unchanged until January next year is 19.9%, with a 62.7% probability of a cumulative 25 basis point rate cut, and a 17.4% probability of a cumulative 50 basis point rate cut.

Investors are also monitoring political turmoil in South Korea and France. The French parliament passed a crucial no-confidence vote, which may lead to the overturning of Prime Minister Castex's government. French lawmakers will vote on the no-confidence motion, and unless there is a last-minute unexpected turn, the motion may overthrow Prime Minister Castex's government. France is currently struggling to control its massive budget deficit.

South Korea is facing a political crisis. South Korean President Yoon Suk-yeol briefly imposed martial law on Tuesday night, causing the country to plunge into a political crisis. This led to a 1.4% drop in the benchmark KOSPI index, with a cumulative decline of over 7% year-to-date, making it the worst-performing major stock market in Asia this year.

In addition, South Korean lawmakers demand President Yoon Suk-yeol to resign, otherwise he will face impeachment.

Focus stocks

Growth tech stocks varied, Salesforce surged over 10%, Broadcom rose nearly 3%, Amazon rose nearly 2%.

Most crypto concept stocks rose, Coinbase surged almost 4%, MSTR, MARA rose over 2%.

Many popular China concept stocks declined, jd.com fell nearly 3%, Ctrip fell nearly 2%, pdd holdings fell nearly 1%.

$Salesforce (CRM.US)$ up almost 10%, exceeding expectations for the third quarter performance, year-on-year growth of 10% in remaining performance obligations (cRPO), raising full-year revenue guidance.

$Marvell Technology (MRVL.US)$ Surging over 20% to all-time high, growth tech's Q3 2025 fiscal year performance exceeded expectations across the board, with strong guidance for Q4.

$NVIDIA (NVDA.US)$ Rising nearly 1%, recently launched Isaac Sim 4.2, for developers to simulate and test AI-driven robots.

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