US Stocks Rise as Thanksgiving Week Begins

2025-11-24 14:38 By Joana Taborda 1 min. read

US stocks traded higher on Monday as markets kicked off a holiday-shortened Thanksgiving week.

The S&P 500 rose 1.3%, Nasdaq gained 2.2%, and the Dow advanced 250 points, with traders increasing bets on a Fed rate cut next month, following comments from Fed Governor Waller today and the head of the NY Fed last Friday.

The odds for a 25bps reduction in the fed funds rate currently stand at around 77%.

Investors are also bracing for a busy week of economic data, including retail sales, durable goods orders, and PPI figures.

Communication services and consumer discretionary were by far the top performers while energy lagged.

Broadcom surged 10% on massive $10B AI chip order.

Alphabet rose nearly 4.8% after it overtook Microsoft to become the third-largest US company by market value.

Tesla climbed 6.6% after CEO Musk said the company has already designed several million AI chips for its vehicles and data centers.

On the other hand, Exxon Mobil was down 1% and Procter & Gamble fell 2.6%.



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