Stock market today: Dow, S&P 500, Nasdaq futures leap sparking hopes of a rebound to balance November losses
US stock futures rose Sunday night as investors look for a turnaround heading into the shortened Thanksgiving trading week, following a pullback that has cooled this year’s AI-driven market rally.
Dow Jones Industrial Average futures (YM=F) added roughly 200 points, or 0.4%, while S&P 500 futures (ES=F) advanced 0.5%. Nasdaq-100 futures (NQ=F) climbed 0.6%. US markets will be closed Thursday for the Thanksgiving holiday and will shut early at 1 p.m. ET on Friday.
The Sunday moves come as equities attempt to extend Friday’s rebound, sparked after Federal Reserve Bank of New York president John Williams suggested that a December rate cut remains a possibility. Even so, major indexes have suffered notable losses in November as investors reassess lofty valuations across AI-aligned stocks.
The S&P 500 dropped 2% last week, widening its month-to-date decline to about 3.5%. The Nasdaq Composite slid 2.7% and is now down over 6% in November. The Dow fell almost 2% over the week and is off nearly 3% for the month.
While still working through the impact of the longest government shutdown in US history, data releases are beginning to trickle back into circulation, though a return to the full economic calendar is still a ways off.
This week, traders are eyeing on data on producer prices from the Bureau of Labor Statistics and the Census Bureau’s retail sales data, both from September. Both reports are due out Tuesday.
Earnings season continues with a week of relatively muted releases. Alibaba Holdings (BABA), Dell Technologies (DELL), and a smattering of retailers, including Kohl’s (KSS) and Best Buy (BBY) are the highlights of the holiday-shortened week.
President Trump’s tariffs also remain in the back of mind, with the Supreme Court set to issue a ruling on whether the bulk of them were imposed legally. The Commerce Department and the Office of the US Trade Representative are reportedly preparing a roadmap if the ruling goes against the administration.
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