A Big Tech Snapback Kicks Off Thanksgiving Week
US stocks surged Monday, launching a powerful rebound to start the shortened Thanksgiving trading week. Investors rotated back into risk-on mode as policymakers signaled growing openness to a December interest-rate cut — a shift traders have been waiting weeks to see.
The Nasdaq Composite jumped more than 2%, while the S&P 500 gained over 1.3%. The Dow Jones Industrial Average, less exposed to tech, rose 0.4%.
The move extends Friday’s bounce and helps stabilize what has been a volatile pullback for markets in November. Analysts increasingly believe the correction phase in this year’s AI-driven rally is nearing exhaustion.
Nvidia, Alphabet, Tesla Lead the Charge
The day’s gains were dominated by the megacaps:
- Nvidia (NVDA) powered higher into the open.
- Alphabet (GOOG) extended last week’s strength.
- Tesla (TSLA) rebounded sharply after weeks of pressure.
The renewed appetite for AI and growth stocks stood in contrast to Bitcoin, which continues to struggle. BTC traded just below $87,000, recovering modestly from Friday’s plunge under $81,000 — but still showing deep risk-off sentiment in crypto.
Rate Cut Debate Heats Up
Federal Reserve officials delivered the catalyst markets wanted: hints of another rate cut in December.
Christopher Waller joined New York Fed President John Williams in signaling the stance of policy is becoming “modestly restrictive” — giving investors fresh confidence that easing is back on the table.
Markets will get more clarity this week as delayed economic data finally begins to roll out, including:
- September producer price index
- September retail sales
- November consumer confidence
These figures will feed directly into rate-cut probabilities heading into the end of the year.
Earnings and Tariff Watch
Earnings season is winding down, but key names still on deck include:
- Alibaba (BABA)
- Best Buy (BBY)
- Kohl’s (KSS)
Trade policy is also in play. US and EU officials meet this week for their first major discussions since their July deal. Markets are watching closely for any signals on tariff enforcement — especially with the Supreme Court reviewing whether past tariff actions were legally enacted.
A reversal could force swift adjustments from the Commerce Department and US Trade Representative, both reportedly preparing contingency plans.
WSA Take
Big Tech is reasserting leadership, and markets are signaling they want to believe in a December cut. But the rebound remains fragile: crypto weakness, delayed data, and tariff uncertainty are still lurking in the background. This week’s economic numbers will decide whether today’s rally has legs or is just another relief bounce.
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Disclaimer
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