The US stock market experienced a substantial uptick on November 26, 2025, as investor optimism surged ahead of the Thanksgiving holiday. Both the S&P 500 and Nasdaq benefited from a favorable economic outlook, particularly regarding potential interest rate cuts anticipated in December.
Wall Street”s positive momentum saw the Dow Jones climbing approximately 0.9%, gaining over 400 points for the day. The S&P 500 mirrored this performance, while the Nasdaq Composite, heavily influenced by major technology companies, rose by around 1%. This marks a continuation of four consecutive days of growth for the markets.
Technology giants played a pivotal role in this upward trend. Although shares of Alphabet dipped slightly after reaching record highs the previous day, Nvidia showed signs of recovery, with Microsoft, Amazon, and Apple also reporting modest gains. The ongoing partial government shutdown has limited the release of economic data, prompting investors to closely monitor signals from the Federal Reserve.
The release of the Beige Book today provided detailed insights into regional economic conditions, emphasizing consumer spending and labor market trends. These factors are anticipated to influence the Fed”s upcoming meeting scheduled for two weeks from now. Current market forecasts indicate an over 80% likelihood of a 0.25 percentage point interest rate cut in December, bolstered by recent weak retail and wholesale inflation data. Additionally, initial jobless claims unexpectedly fell to their lowest level since April.
Political dynamics also play a role, as discussions intensify regarding potential successors to Jerome Powell as Fed Chair. Kevin Hassett has emerged as a frontrunner in these discussions.
The cryptocurrency market mirrored the bullish sentiment in traditional equities, with Bitcoin trading around $89,797.90, reflecting a 4% increase on the day. The cryptocurrency briefly crossed the $90,000 mark during the morning trading session, reinforcing positive sentiments among traders. Meanwhile, Ethereum regained momentum, surpassing the $3,000 threshold and maintaining a strong performance over the past 24 hours. Among the top 100 cryptocurrencies, Kaspa (KAS) stood out with an impressive gain of approximately 20% for the day.
