Stock Market Today - U.S. Stock Market Rallies, Nasdaq Jumps and S&P 500 Climbs as NVDA, DELL, GOOGL, and HOOD Drive Rally

Stock Market Today - U.S. Stocks Extend Rally as AI Optimism and Fed Easing Bets Lift Wall Street

Wall Street carried its winning streak into a fourth consecutive session Wednesday, as investors embraced renewed risk appetite ahead of the Thanksgiving holiday. Major U.S. indices closed higher across the board, powered by robust performance in artificial intelligence and technology shares, solid retail earnings, and rising confidence in a December interest-rate cut. The Dow Jones Industrial Average (DJIA) advanced 312 points (0.7%) to 47,419.28, the S&P 500 (SPX) climbed 0.73% to 6,815.33, and the Nasdaq Composite (IXIC) gained 0.82% to 23,214.70. The Russell 2000 added 0.67%, while the KBW Nasdaq Bank Index increased 1.18%, highlighting strength in financials. The CBOE VIX dropped 4.69% to 17.69, reflecting easing volatility expectations.

Bond yields remained stable with the U.S. 10-year Treasury at 4.021%, while the Dollar Index (DXY) slipped 0.20% to 97.02, bolstering sentiment for risk assets.

Nasdaq and S&P 500 Outperform as Dip Buyers Regain Control

Wednesday’s advance reinforced the market’s recovery from early-November weakness. The Nasdaq Composite has reclaimed its 50-day moving average at 22,923.17, a level now serving as near-term support. Sector breadth was overwhelmingly positive — nine of eleven S&P 500 sectors ended higher. Technology, Materials, and Utilities led gains, rising 0.99%, 0.92%, and 0.89%, respectively, while Communication Services and Health Care lagged slightly.

The ongoing rally suggests that dip buyers remain active, viewing November’s shallow 4% pullback as a consolidation phase rather than a breakdown. As investor focus shifts toward December’s Federal Reserve decision, equity risk appetite appears to be strengthening on expectations that monetary policy will turn more accommodative before year-end.

NVIDIA (NVDA) and Dell (DELL) Lead AI-Driven Recovery

AI momentum remained the dominant theme in Wednesday’s trading session. NVIDIA Corp. (NASDAQ:NVDA) rebounded 1.7% to $180.87, partially recovering from its previous decline as investors assessed reports that Alphabet (NASDAQ:GOOG) and Meta Platforms (NASDAQ:META) were exploring alternative AI chip partnerships. Nvidia reaffirmed that its GPU architecture remains “a generation ahead” of competitors, with demand outpacing supply amid continued global AI infrastructure buildouts.

Dell Technologies (NYSE:DELL) surged 5.48% to $132.82 after lifting full-year guidance and projecting $25 billion in AI server revenue for fiscal 2026, up from $20 billion in its prior forecast. The company’s deals with CoreWeave, Elon Musk’s xAI, and Abu Dhabi’s G42 have solidified its position as one of the leading beneficiaries of enterprise AI deployment. Its adjusted Q4 earnings forecast of $3.50 per share topped expectations, suggesting robust profitability even amid high input costs.

Oracle (NYSE:ORCL) advanced 4%, extending its outperformance on cloud AI demand, while Microsoft (NASDAQ:MSFT) gained 1%, closing at another 2025 high as investors priced in further growth in Azure’s AI-related revenue.

Alphabet (GOOGL) Extends Record Run Despite Pullback

Alphabet Inc. (NASDAQ:GOOGL) edged 1.12% lower to $319.54 after a 13th record close this month, bringing its year-to-date gain to over 92%. The company has recorded 13 all-time highs in November alone, driven by enthusiasm for its Gemini 3 AI platform and increasing adoption of its Tensor Processing Units (TPUs) by enterprise clients.

Alphabet’s market capitalization remains near $4 trillion, placing it in direct competition with Microsoft and Apple for global dominance in AI-driven infrastructure. Analysts noted that Meta’s potential shift toward Google’s TPU ecosystem could reinforce Alphabet’s long-term positioning in the AI acceleration market. Despite the mild retreat, the stock remains technically overbought with a 14-day RSI above 76, but institutional flows suggest continued accumulation at current levels.

Retail Sector Surges Ahead of Black Friday

Consumer spending trends surprised to the upside heading into the holiday season. Urban Outfitters (NASDAQ:URBN) jumped 11.76% to $76.34 after posting earnings per share (EPS) of $1.28 on $1.53 billion in revenue, both exceeding estimates. Management highlighted strong digital channel sales and robust early holiday demand.

Walmart (NYSE:WMT), TJX Companies (NYSE:TJX), and Best Buy (NYSE:BBY) reported steady sales momentum, signaling that consumers continue to prioritize value-driven discretionary purchases despite tariff concerns.

However, HP Inc. (NYSE:HPQ) declined 2.55% to $23.70 after unveiling a workforce reduction plan of 4,000–6,000 jobs, part of a $1 billion AI cost-cutting program aimed at streamlining operations. Revenue rose 4.2% to $14.6 billion, narrowly missing forecasts, while the Personal Systems unit expanded 8% to $10.4 billion. The print division contracted 4%, underlining structural headwinds in legacy hardware.

Deere & Company (NYSE:DE) suffered the session’s largest drop, plunging 5.21% to $472.20 after forecasting FY2026 net income between $4.0 and $4.75 billion, below consensus expectations of $5.31 billion. CEO John May said 2026 would likely mark “the bottom of the large ag cycle,” citing weaker farm equipment demand and prolonged pressure on U.S. agricultural exports.

Robinhood (HOOD) Jumps on Futures and Derivatives Expansion

Robinhood Markets Inc. (NASDAQ:HOOD) surged 8.63% to $125.54, marking its largest single-day gain since September. The company announced a strategic partnership with Susquehanna International Group to acquire LedgerX, a regulated futures and derivatives exchange, enabling Robinhood to expand into prediction markets and event-based trading.

The acquisition is viewed as a key milestone in Robinhood’s evolution beyond retail brokerage, particularly after regulatory clarity allowed election betting markets to reopen in late 2024. With this move, Robinhood now positions itself as a diversified trading platform bridging crypto derivatives, futures, and predictive contracts. The stock is up 230% year-to-date, making it one of the strongest-performing financial names of 2025.

Federal Reserve Speculation and Job Data Fuel Easing Expectations

The probability of a December 25-basis-point rate cut rose to 85%, fueled by soft labor and durable goods data. Weekly jobless claims fell to 216,000, the lowest since April, while continuing claims reached 1.96 million, the highest in four years. The data indicated a slowing pace of hiring rather than broad layoffs, suggesting the economy remains in a “low-fire, low-hire” phase.

Political attention turned to the Federal Reserve chair succession, as Kevin Hassett, the White House National Economic Council Director, emerged as the leading candidate to replace Jerome Powell. Markets interpreted Hassett’s nomination odds — estimated at 53% on Polymarket — as a signal of dovish continuity, reinforcing bets on extended monetary easing through early 2026.

Gold (XAU/USD) Breaks Higher as Dollar Weakens

Gold prices surged 1.44% to $4,199.80, supported by dollar softness and increased conviction in near-term rate cuts. Bullion has risen over 5% in November, outperforming equities on a risk-adjusted basis. The weaker Dollar Index (97.02) and stable 10-year yield (4.021%) added fuel to gold’s momentum, with technical resistance seen at $4,220 and next support near $4,130.

Crude oil (CL=F) edged 0.05% higher to $57.98, marking a modest rebound following weeks of downside pressure amid concerns over Chinese demand and elevated inventories. Energy traders remain focused on OPEC+ supply decisions and refinery throughput data due next week.

Bitcoin (BTC-USD) consolidated near $87,197 (-0.20%), stabilizing after its sharp mid-month surge to new record highs above $88,000. Market participants noted reduced volatility and steady ETF inflows as supportive factors.

Global Markets and U.K. Fiscal Policy Developments

Overseas equities followed Wall Street’s lead. Japan’s Nikkei 225 rallied 1.9%, South Korea’s Kospi climbed 2.7%, and U.K. assets advanced following fiscal measures from Chancellor Rachel Reeves, who announced £26 billion ($34.2 billion) in new tax hikes targeting high earners and investment income. The British pound appreciated modestly, reflecting investor confidence in the government’s commitment to fiscal consolidation.

Institutional Forecasts Signal Extended Market Upside

JPMorgan Chase (NYSE:JPM) and HSBC Holdings (NYSE:HSBC) each reaffirmed their S&P 500 price targets of 7,500 for 2026, with a potential bull case to 8,000 contingent on further Fed rate cuts. Both banks project 13–15% earnings growth over the next two years, supported by AI capex acceleration, deregulation, and rising productivity.

Analysts emphasized that the AI-driven capital expenditure boom remains underappreciated by the broader market. JPMorgan’s outlook noted that “AI spending is spreading across industries — from Technology and Utilities to Banks and Logistics — creating new winners and losers within an already polarized economy.”

Technical Overview and Short-Term Bias

From a technical standpoint, the Nasdaq Composite’s close above its 50-day moving average confirms near-term bullish control, while the S&P 500 maintains upward momentum toward resistance near 6,850–6,900. Market breadth ratios improved sharply, with advancing issues outpacing decliners by nearly 3-to-1.

Institutional inflows have strengthened across growth sectors, though analysts warn of lighter trading volume through Friday’s shortened session (closing at 1 p.m. ET), which could amplify intraday volatility.

Market Verdict: Cautiously Bullish Bias Ahead of December

The combination of resilient consumer spending, cooling inflation expectations, and strong AI sector earnings continues to underpin U.S. equity markets. Despite November’s early weakness — where the Nasdaq remains down roughly 3% month-to-date and the S&P 500 lower by 1% — the late-month rebound has restored technical and psychological confidence across risk assets.

With an expected Fed rate cut in December, AI capex growth accelerating, and major indices reclaiming critical support levels, the market bias remains bullish into December.

Final Ratings:

• Nasdaq Composite (IXIC): Buy – Momentum supported by AI leadership and breakout recovery

• S&P 500 (SPX): Buy – Short-term upside toward 6,900–7,000

• Dow Jones (DJIA): Hold – Strength capped by industrial softness

• Gold (XAU/USD): Buy – Supported by weaker dollar and rate-cut outlook

• Crude Oil (CL=F): Hold – Range-bound with modest upside near $60

• Bitcoin (BTC-USD): Buy – Stable institutional flows and ETF support

The upcoming December Fed decision remains the decisive macro trigger for year-end performance. With risk sentiment firming and AI valuations leading the rebound, Wall Street enters the Thanksgiving break on a solid footing, setting the stage for potential continuation into the final trading weeks of 2025.

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