What Happened?

Shares of human capital management provider Alight (NYSE: ALIT) jumped 3.9% in the afternoon session after a director, Robert A. Lopes Jr., purchased thousands of dollars worth of company stock. According to a regulatory filing, the director bought 10,000 shares for a total of $23,899. Such a purchase by a high-level insider is often viewed by the market as a strong vote of confidence in the company's future direction and financial health. Investors typically interpret these actions as a signal that the company's leadership believes the stock may be undervalued at its current price, which can lead to increased buying interest from the broader market.

After the initial pop the shares cooled down to $2.40, up 3.7% from previous close.

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What Is The Market Telling Us

The previous big move we wrote about was 7 days ago when the stock gained 6.5% on the news that renewed enthusiasm for Alphabet reinvigorated the artificial intelligence trade, propelling a market rebound heading into the Thanksgiving holiday. The Nasdaq index jumped 2.6% and the S&P 500 gained 1.6%, driven by a 5% rally in Alphabet following the announcement of its upgraded Gemini 3 AI model. This optimism spilled over into the broader tech sector, lifting shares of Broadcom, Micron, and Palantir significantly. The rally built on momentum from the previous trading session, sparked by the New York Fed president keeping the door open for a December interest rate cut.

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