Traders work on the floor of the New York Stock Exchange on August 4, 2022.
Source: New York Stock Exchange
Stock futures rose in overnight trading Sunday as the market looks to recover ahead of the Thanksgiving holiday week after a decline that took the air out of this year’s AI bull market.
Dow Jones Industrial Average futures rose 200 points. S&P 500 futures rose 0.6% and Nasdaq 100 futures rose 0.8%. The stock market will be closed Thursday for Thanksgiving and will close early Friday at 1 p.m. ET.
Stocks are looking to add to a strong rebound that began Friday after the New York Fed president opened the door to a rate cut in December. Major stock averages remain significantly lower since the start of the month, pressured by the very high valuation reviews across artificial intelligence stocks that drove the market rally in 2025.
The S&P 500 index fell 2% last week, bringing November’s decline to 3.5%. The Nasdaq Composite Index fell 2.7% last week and 6.1% for the month. The 30-stock Dow Jones Industrial Average fell 1.9% last week and is down 2.8% since the beginning of the month.
The last period of November may not be an easy one. Trading volumes are expected to decline in the coming days, and volatility could rise as there is little meaningful triggering ahead of the Fed’s December policy meeting.
“Investors hate noise. They crave certainty, and the market just can’t deliver it right now,” Mark Malek, chief information officer at Sievert Financial, said in a note.
Key macro events this week include October US retail sales and October producer price index data on Tuesday, both of which could help shape expectations ahead of the year’s final Fed meeting.
