Market Recap - Monday, November 24, 2025
Markets Rebound to Kick Off the Week
Stocks bounced back sharply to start the week, with the S&P 500 up 1.55%, Nasdaq jumping 2.69%, and the Dow gaining 0.44%. The rally was led by big tech names like Alphabet (GOOGL) and Tesla (TSLA), while speculative and high-momentum stocks - like quantum computing and crypto plays - also saw strong gains. Small-caps did well too, with the Russell 2000 rising 1.89%. Defensive sectors like utilities, consumer staples, and telecom lagged behind.
The rebound builds on Friday’s strength, as investors grow more confident that the recent pullback is overdone. There’s renewed enthusiasm for growth stocks, and optimism around Google’s Gemini 3 AI model is helping fuel the tech rally. Meanwhile, comments from Fed officials hinting at a possible rate cut in December added to the positive mood. Futures markets are now pricing in an 85% chance of a cut at the next Fed meeting.
On the macro front, Dallas Fed’s November manufacturing index came in much weaker than expected. Despite that, bond yields moved slightly lower, and the dollar was flat. Gold inched up 0.4%, Bitcoin jumped 5.3%, and oil prices gained 1.3%.
Big Movers:
Blue Foundry (BLFY) +40% on news it’s being acquired by Fulton Financial (FULT).
Inspire Medical (INSP) +30% after a new Medicare reimbursement decision.
Alphabet (GOOGL) +6.3% on more excitement around its AI model.
Alibaba (BABA) +5.1% as its Qwen AI app surpassed 10M downloads.
Novo Nordisk (NVO) -5.6% after Alzheimer’s drug trial disappointment.
Grindr (GRND) -12.1% after rejecting a take-private proposal.
Here’s Our Take
Today’s rally had a clear growth and tech tilt, with AI optimism front and center. Fed officials keep leaning dovish, and market participants are increasingly betting on a December rate cut. While seasonal tailwinds and technical factors are supporting the bounce, it’s important to stay cautious - economic data surprises (like today’s Dallas Fed miss) and lingering uncertainties around inflation, AI capex, and policy splits could still jolt markets. For now, though, the bulls have some momentum heading into the Thanksgiving-shortened week.
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