The U.S. stock market concluded a volatile November with a positive, albeit abbreviated, trading session on Black Friday, November 28, 2025. Major indexes extended their winning streaks for the week, pushing higher despite an early close at 1:00 PM ET for equities and 2:00 PM ET for the bond market, a traditional observance following the Thanksgiving holiday. The shortened trading day saw investors digesting a mix of company-specific news and continued optimism surrounding potential Federal Reserve policy shifts.
Major Index Performance
All three benchmark U.S. stock indexes posted their fifth consecutive day of gains, marking their best weekly performance since June. The S&P 500 closed up 0.54% at 6,849.09, managing to eke out a slight gain for the month of November, avoiding its first monthly decline since April. The Dow Jones Industrial Average advanced 0.61% to 47,716.42, extending its impressive seven-month winning streak. Meanwhile, the tech-heavy Nasdaq Composite rose 0.65% to finish at 23,365.69. Despite today's gains, the Nasdaq Composite notably snapped a seven-month winning streak, concluding November down 1.5% for its first monthly loss since March.
Afternoon trading activity, though truncated, saw broad-based participation. The Materials Select Sector SPDR (XLB), Technology Select Sector SPDR (XLK), Utilities Select Sector SPDR (XLU), and Consumer Staples Select SPDR (XLP) all saw increases, rising by 1.2%, 1.3%, 1.3%, and 1% respectively. Strength in semiconductor stocks was a significant driver of market gains, while energy producers also climbed, with WTI crude oil futures up more than 1% to a one-week high. Conversely, healthcare and consumer discretionary sectors experienced some pressure as investors rotated into other areas.
Key Stock Movers and Corporate News
In corporate news, several companies made headlines during the shortened session. Chipmaker Intel (INTC) was a standout performer, surging an impressive 10.2% on speculation that it could become a foundry supplier for Apple (AAPL) processors, adding to earlier rumors of a potential deal with the iPhone maker. Flash memory card and solid-state drive maker Sandisk (SNDK) also saw a gain of nearly 4% as it officially debuted in the S&P 500, a move often leading to increased demand from index-tracking funds.
Cryptocurrency-related stocks experienced a boost as Bitcoin's price climbed above US$92,000. Coinbase Global (COIN) added 2.2%, while other crypto-tied companies like MARA Holdings (MARA) and MicroStrategy (MSTR) also saw significant upticks. Among other tech giants, Alphabet (GOOGL) rose 1.8% and Micron Technology (MU) gained 2.1%. However, not all tech stocks fared equally well; Nvidia (NVDA) fell 1.4% and is poised for a double-digit loss for the month, as was Oracle (ORCL), which dropped 3% today.
Retailers generally performed well on Black Friday, with Walmart (WMT), Target (TGT), and Amazon (AMZN) all closing up between 1% and 2%. Natural gas producer EQT (EQT) also saw its shares rise over 3% following a dip in temperatures over Thanksgiving, signaling strong demand for heating fuel. On the downside, pharmaceutical giant Eli Lilly (LLY) saw its shares decline by 2.68%, giving back some of its recent gains.
An earlier technical glitch at the Chicago Mercantile Exchange (CME) caused a temporary halt in futures and options trading due to a cooling issue at a data center. However, trading resumed around 8:30 AM ET, minimizing the impact on the day's shortened session.
Upcoming Market Events
Looking ahead to the first week of December, investors will be closely watching a series of economic data releases and corporate earnings. On Monday, December 1, October Construction Spending and November ISM Manufacturing data are expected. Mid-week, on Wednesday, December 3, the November ADP Employment Survey, September Capacity Utilization, and September Industrial Production figures will be released. Additionally, several companies, including Macy's (M), Salesforce (CRM), and Snowflake (SNOW), are slated to report earnings.
Thursday, December 4, will bring the latest Initial Unemployment Insurance Claims report. The week will conclude on Friday, December 5, with the December Preliminary University of Michigan Index of Consumer Sentiment and the September Personal Income and Outlays report, which includes crucial Personal Consumption Expenditure (PCE) and Core PCE data, key inflation indicators closely watched by the Federal Reserve.
Market sentiment remains optimistic about a potential Federal Reserve interest rate cut. The probability of a rate cut at the upcoming December 9-10 FOMC meeting has reportedly risen to 84% from 30% just last week, fueled by recent dovish economic news and Fed commentary. This anticipation continues to be a significant factor influencing market direction as the year draws to a close.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.