Wall Street turns bullish as US stocks eye year-end rally

After the US midterm elections, institutions including JPMorgan, Nomura, HSBC and Citadel Securities issued bullish reports. The S&P 500 rose nearly 2% and the Dow gained over 3% in a single day. Retail investors net bought nearly $33 billion over 22 straight sessions, while corporate buyback authorizations reached $1.5 trillion. Tech and semiconductor valuations compressed as earnings estimates rose.