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U.S. stocks deepened their comeback on Monday, with the tech-heavy Nasdaq Composite index scoring its best session since May — after nearly slipping into correction territory last week.

Futures traders were pricing in more than an 80% chance of a Fed rate cut in December, according to data from CME Group, after Fed governor Christopher Waller early on Monday joined a group of senior Fed officials calling for another cut.

Over the past 20 years, a strong start on the Monday prior to Thanksgiving overwhelmingly preceded gains for the rest of the week.

U.S. stocks deepened their comeback on Monday, with the tech-heavy Nasdaq Composite index scoring its best session since May — after nearly slipping into correction territory last week.

Over the past 20 years, a strong start on the Monday prior to Thanksgiving overwhelmingly preceded gains for the rest of the week.