Market Highlights

US stocks advanced in thin trading after a technical outage at the Chicago Mercantile Exchange disrupted premarket activity. Bonds edged lower. The S&P 500 rose 0.5% in a post-holiday shortened session and was back within spitting distance of all-time highs. Volume was more than 25% below the 30-day average as Friday trading closed at 1:00 p.m. Earlier, a data-center fault had affected multiple markets, with the issue lasting longer than a similar outage in 2019. Global stocks fell and cryptocurrencies slumped, signaling risk aversion ahead of a slew of US economic data this week even as bets for a December Federal Reserve interest-rate cut remain firm.

A gauge of global equities held firm after four days of gains, following a recovery fueled by bets that the Federal Reserve will cut interest rates faster than previously thought. The MSCI All Country World Index was little changed after trimming its drop for November to 0.4% in the prior sessions. The gauge had been down nearly 4% for the month just over a week ago. European and Asian benchmarks posted modest moves, with US markets closed for Thanksgiving. In another sign that risk appetite is returning, Bitcoin traded above $91,000 for the first time in a week. The dollar paused a two-day retreat. The moves in stocks tracked firmingexpectations for Fed easing, with money markets pricing in roughly an 80% chance of a quarter-point cut next month and leaning toward three more by the end of 2026. A little more than a week ago, traders were projecting three cuts in total. It also signals fresh optimism after worries over stretched tech valuations hammered equities earlier in the month

Tech stocks led the climb in US equities as rising expectations for interest-rate cuts helped carry traders’ newfound optimism into the Thanksgiving break. The dollar slumped. The S&P 500 rose 0.7% Wednesday, extending an advance into a fourth session after reclaiming its 50-daymoving average, a key technical support. Volume on the equity benchmark was around 11% lighter than 30-day average for the time of day. The Nasdaq 100 ended the session up 0.9% after Nvidia Corp. bounced back from competitive fears over its AI processors. Volatility took a breather with the VIX dropping around 35% over a four-day span, the steepest pullback in Wall Street’s fear gauge since mid April.

US stocks ended Tuesday’s session higher, with traders reloading wagers on an interest-rate cut next month while the latest AI advances drove Big Tech valuations. The S&P 500 rose 0.9% after swinging between modest gains and losses earlier. The Nasdaq 100, after declining as much as 1.3%, wrapped up the day 0.6% higher. Economic data out of the US on Tuesday further cemented bets that the Federal Reserve will lower rates in December. That optimism had pushed stocks higher even on Monday. The US 10-year Treasury yield fell, lingering around 4% after White House National Economic Council Director Kevin Hassett emerged as the front-runner to serve as the next Fed chair. The dollar remained lower. Bitcoin dropped below $88,000.

Technology stocks propelled an advance in global equities as traders kicked off a data-packed week more optimistic that the Federal Reserve will cut interest rates in December. The S&P 500 rose 1.5% and the tech-heavy Nasdaq 100 ended Monday’s session more than 2% higher. While the former notched its best day in six weeks, the latter gained the most since May. Bitcoin reversed an earlier drop. The US 10-year Treasury yield declined to 4.03%. Oil pushed higher as traders weighed the prospect of a Ukraine-Russia peace deal. Technology stocks propelled an advance in global equities as traders kicked off a data-packed week more optimistic that the Federal Reserve will cut interest rates in December.

Wall Street wrapped up a chaotic week with a turnaround in stocks after a selloff that whipsawed some of the most-speculative corners of the market, testing investors’ nerves after a torrid rally. About 450 shares in the S&P 500 rose, with the gauge up 1%. Nvidia Corp. pared most of a plunge that earlier topped 4%. Bloomberg News reported US officials are having early talks on whether to let the firm sell its H200 artificial intelligence chips to China. The market also got an injection of hope as a Federal Reserve official suggested a rate cut remains a possibility. Stocks extended their Friday rebound as traders increased bets on an interest-rate cut by the Federal Reserve next month.

Volatility resurfaced on Wall Street in a session that saw tech stocks falling alongside cryptocurrencies amid an unwinding in speculative areas of the market just as worries grow about the Federal Reserve’s ability to cut interest rates. Thursday was a session in which assets favored by retail momentum traders got hammered, among them crypto and the artificial-intelligence space. Amid the de-risking, the S&P 500 erased its rally, falling 1.6%. Nvidia Corp. tumbled 3% as questions lingered about elevated valuations and investments despite a strong outlook. Bitcoin sank below $87,000 for the first time since April. Global stocks are poised for their worst week in seven months as concerns over lofty valuations and whether massive investments in artificial intelligence will pay off prompt investors to retreat from riskier assets.

Shares of the world’s largest tech companies rallied in late hours on speculation that Nvidia Corp.’s blockbuster outlook will help reignite Wall Street’s artificial intelligence-driven rally. A roughly $390 billion exchange-traded fund tracking the Nasdaq 100 advanced 1% after the close of regular trading. The giant chipmaker that’s seen as a barometer for the revolutionary technology gave a strong revenue forecast for the current period, helping counter concern that a global surge in AI spending is poised to fizzle.The shares spiked about 5%. Stocks jumped after a robust revenue forecast from Nvidia Corp. eased worries about a potential bubble in the artificial intelligence industry that had recently roiled markets globally.

A selloff in the world’s largest technology companies drove stocks to their longest slide since August, underscoring the American market’s narrow reliance on a handful of growth giants. The S&P 500 lost almost 1%, falling for a fourth straight day. In the run-up to Nvidia Corp.’s results, the shares sank 2.8%. The bar is getting higher for the chipmaker to convince investors that the billions of dollars spent on artificial intelligence will pay off. Its outlook could have significant implications due to the firm’smassive influence on major indexes. Stocks slipped in the runup to Nvidia Corp.’s earnings, a key test for market stability after concerns over lofty valuations sparked a selloff that erased about $1.6 trillion from global equities

Wall Street traders gearing up for Nvidia Corp.’s earnings and the jobs report shunned riskier assets as both events will be key in shaping the global financialoutlook throughout the rest of 2025. Just ahead of tests of the two main pillars of the stock bull market — prospects for artificial intelligence and Federal Reserve rate cuts — equities fell alongside crypto. The S&P 500 slid almost 1% — breaching a technical mark seen by many as a gateway to more losses. The gauge snapped 138 sessions during which it held above the 50-day moving average, its second-longest stretch this century. Stocks sold off and Bitcoin hit a seven-month low as investors pulled back from riskier corners of the market in the run-up to Nvidia Corp.’s earnings and a pivotal US jobs report.