| Name | Price | Change | % Chg |
|---|---|---|---|
| Dow | 46,448.27 | 202.86 | 0.44% |
| S&P 500 | 6,705.12 | 102.13 | 1.55% |
| Nasdaq | 22,872.01 | 598.92 | 2.69% |
| VIX | 20.52 | -2.91 | -12.42% |
| Gold | 4,127.90 | 33.7 | 0.82% |
| Oil | 58.91 | 0.07 | 0.12% |
OVERVIEW OF THE US MARKET
Wall Street closed higher on November 24, 2025, extending Friday’s rebound as technology stocks led the charge amid rising bets on a Federal Reserve rate cut in December. The S&P 500 advanced 1.55% to 6705.12, marking its best day in six weeks, while the Nasdaq Composite surged 2.69% to 22872.01, its strongest gain since May. The Dow Jones Industrial Average rose a more modest 0.44% to 46448.27. Nine of the 11 S&P sectors ended in positive territory, with communication services jumping 3.94% and information technology up 2.49%. Consumer staples fell 1.32%, and energy dipped 0.32%, reflecting oil’s muted moves amid Ukraine-Russia peace prospects.
Nvidia led actives with 250.8 million shares traded, climbing 2.05% to 182.55, building on post-earnings recovery despite ongoing AI bubble concerns. Ondas Holdings rocketed 29.47%, Opendoor Technologies gained 13.93%, and Intel rose 3.74%. BigBear.ai Holdings surged 16.11%, highlighting AI momentum. The rally followed dovish Fed signals: Governor Christopher Waller indicated support for a December cut, echoing New York Fed’s John Williams and San Francisco’s Mary Daly, pushing odds above 85% per CME FedWatch, up from 42% a week ago.
The session capped a volatile week where AI valuations and delayed data from the government shutdown fueled uncertainty. September payrolls at 119,000 and 4.4% unemployment hinted at labor softness, while core PCE held steady, providing cover for easing. Investors eyed Tuesday’s delayed retail sales—expected up 0.4% month-over-month—and PPI for consumer health clues ahead of Black Friday, with the National Retail Federation projecting over $1 trillion in holiday sales despite moderation.
Strategists turned optimistic: UBS Securities suggested the selloff may have run its course, with Chris Murphy at Susquehanna eyeing a year-end melt-up. Ed Yardeni adjusted his S&P 500 target to 7000 for next year, citing profit-taking in AI stocks. Deutsche Bank projected 8000 by 2026-end, boosting risk appetite. Bristol-Myers gained 3.3% on rival data, Centene and Oscar Health jumped on ACA subsidy extensions.
Geopolitically, Trump and Xi’s “very good” call covered trade, soybeans, fentanyl, and Ukraine, with Trump agreeing to visit Beijing in April. Commerce Secretary Howard Lutnick noted Trump’s decision on Nvidia H200 chips to China, weighing growth versus security. US-Kyiv talks refined a peace framework, with Trump hinting at progress despite disagreements. Overall, renewed Fed hopes overshadowed AI jitters, setting up a data-packed short week amid tariff truce extensions and G20 tensions.
OVERVIEW OF THE AUSTRALIAN MARKET
Australian shares rebounded on November 24, 2025, snapping a recent sell-off as renewed US Fed cut hopes lifted sentiment. The S&P/ASX 200 rose 1.29% to 8525.1, the All Ordinaries gained 1.31% to 8800.4, and the Small Ordinaries climbed 1.80% to 3582.6. Ten of 11 sectors advanced, led by industrials up 2.71% and information technology surging 2.39%. Real estate added 2.08%, utilities 2.04%, and health care 1.97%. Energy slipped 0.28% on oil weakness amid Ukraine-Russia talks.
Qube Holdings soared 19.4% after Macquarie’s $11.6 billion takeover bid, boosting industrials. Monash IVF jumped 44.3% rejecting a proposal, Gentrack rose 20.6% on FY25 results. Reece gained 12.7% extending post-update rally, SKS Technologies up 9.5%. Tech standouts: Superloop +7.4%, Life360 +7.1%, Iress +8.0%. Sims rose 8.0% in uptrend. Lithium plays dragged: Mayne Pharma down 18.0% on FIRB update, Lake Resources -9.8%, Core Lithium -9.1%, Liontown -6.5%.
The bounce followed US tech gains, with IG’s Tony Sycamore noting potential short-term low amid Fed bets. BHP edged 0.62% to 40.62 after its Anglo approach—cash-stock mix valuing Anglo above £30/share—was rebuffed, opting to walk rather than disrupt Anglo-Teck’s $60 billion copper tie-up. Anglo’s board favored Teck for synergies in Chile mines, despite BHP’s premium. Investors like Aberdeen’s Lourenco saw “now-or-never” urgency, but Ninety One’s Cheveley noted risks in BHP’s iron ore exposure.
Local data: Q3 capital expenditure Wednesday at 0.5%, October CPI Thursday at 3.6% year-over-year, signaling RBA hold amid sticky prices. NZX 50 up 0.60%, Nikkei down 2.46% on yen weakness. Bitcoin’s rebound supported risk, with eToro’s Badami noting $800 billion crypto wipeout reversal.
PM Modi-Albanese G20 meet pledged deeper ties in critical minerals, energy. Morningstar wrap echoed US volatility as “release valve.” Black Friday looms with US retail data, testing consumer amid labor slowdowns. Overall, Fed optimism overwhelmed RBA gloom, but lithium weakness and BHP saga highlight commodity jitters.
