US equities started the shortened Thanksgiving week on a high note, building on Friday’s rebound as policymakers stoked hopes for a December interest-rate cut.
The tech-heavy Nasdaq Composite jumped over 2.5%, while the S&P 500 rose more than 1.4%. The Dow Jones Industrial Average, with its smaller tech weighting, added 0.5%. Stocks appear to be extending gains after a November pullback that hit the AI-driven rally hard. Nvidia, Alphabet, and Tesla were among the biggest gainers, helping drive the recovery.
Bitcoin also bounced, trading above $88,000 after dipping near $80,000 late last week, signaling some calm in crypto markets.
Investors remain focused on interest-rate policy, with Fed officials Christopher Waller and John Williams backing the case for easing next month. The start of a flood of delayed economic data will shape sentiment further. Tuesday brings September updates on producer prices and retail sales, along with November consumer confidence figures.
Earnings headlines this week include Alibaba and US retailers Kohl’s and Best Buy, as companies report ahead of the year-end shopping season.
Trade policy is also in focus, with US and EU officials holding their first talks since July and markets weighing potential Supreme Court involvement in the legality of existing tariffs. The Commerce Department and US Trade Representative are preparing a roadmap if the court rules against the administration.
