Market Update Ahead of Thanksgiving
The U.S. stock markets will take a break for Thanksgiving on Thursday, planning to reopen Friday for a short session until 1 PM ET.
As we near the end of November, it looks like the major U.S. indexes are going to finish the month in negative territory. Based on calculations from CNBC, the S&P 500 has dropped by 0.4% this month, and the Dow Jones Industrial Average isn’t far behind, down by 0.29%. Meanwhile, the Nasdaq Composite, heavily influenced by tech stock struggles, has seen a more significant decrease of 2.15%.
With only a few hours left to trade this month, unless we see a strong rally on Friday—which might just raise more concerns about the market’s overall health—it appears likely that the winning streak for these indexes will come to an end. Recently, both the S&P 500 and the Dow have shown gains over the past six months, while the Nasdaq has enjoyed a rise for seven months. Pretty impressive, right?
This potential downturn would be quite unusual, as historically, the S&P 500 has gained an average of 1.8% during November since 1950. Moreover, you generally see an increase of around 1.6% the year following a U.S. presidential election. However, this year, things feel different, and many experts think we might not stick to those historical trends in the coming months.
What You Need to Know Today
Futures for U.S. markets were nearly flat late Thursday. The markets are closed for Thanksgiving, but stocks like Stocks 600 have seen a slight rebound, up 0.14% after an earlier decline.
Alibaba is launching AI glasses. The new Quark AI Glasses will be sold in two models, priced at CNY 1,899 (around $268) and CNY 3,799. This move pits Alibaba against competitors like Meta, which has its own glasses priced at $799.
Apple is taking action against India’s antitrust body. The Competition Commission of India is examining complaints focused on Apple’s in-app purchase policy, which could lead to a fine of $38 billion based on global sales—yikes!
Russia expresses openness for serious peace negotiations. Russian President Vladimir Putin stated that the U.S.-led framework might lay the groundwork for future agreements, suggesting a willingness to consider a more diplomatic path.
Bank of America is skeptical about market growth in 2026. Analysts predict the S&P 500 will only rise by single-digit percentages, attributing the slowdown to the shrinking of key supporting factors.
And Finally…
Europe’s measured approach to AI may give it an edge. While European nations might not dominate the AI hyperscaler market, they are expected to excel in smaller, cloud-focused facilities. Seb Dooley from Principal Asset Management noted that the harder something is to replicate, the better its long-term value tends to be.
