NEW YORK, Nov 21, (Xinhua): US stocks rebounded Friday after New York Federal Reserve President John Williams signaled the central bank could deliver another interest rate cut before the end of the year. The Dow Jones Industrial Average rose 493.15 points, or 1.08 percent, to 46,245.41. The S&P 500 added 64.23 points, or 0.98 percent, to 6,602.99.

The Nasdaq Composite Index increased by 195.03 points, or 0.88 percent, to 22,273.08, but also registered its longest weekly losing streak since March. All 11 primary S&P 500 sectors ended higher, with communication services and health leading the gainers by rising 2.15 percent and 2.11 percent, respectively. Williams said he views monetary policy as "modestly restrictive," though less so following recent moves.

"I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral," he said in a prepared speech in Santiago, Chile. The comments from one of the Fed's most influential voices suggested policymakers are inclined toward another rate reduction at the December meeting.

Traders swiftly increased their bets, with fed funds futures now pricing in more than a 70 percent chance of a quarter-point cut, up from below 40 percent a day earlier, according to the CME FedWatch tool. Meanwhile, Nvidia's blockbuster third-quarter results have done little to ease concerns about an emerging AI bubble, Barclays said.

Worries remain elevated over the long-term return on investment for AI spending, as Nvidia was down nearly 1 percent on Friday. "The initial relief rally in risk assets following another impressive earnings delivery was short lived," Barclays strategist Emmanuel Cau said in a Friday note, pointing to Thursday's sharp reversal in tech stocks that dragged stock indexes lower.

The Cboe Volatility Index, known by its ticker symbol VIX, was trading around 23 on Friday afternoon, up more than 16 percent this week, and it was on pace for its biggest weekly increase since the period ending Oct. 10, according to FactSet data. In corporate news, shares of Gap, Intuit and Ross Stores jumped after the three companies reported better-than-expected earnings following Thursday's closing bell.