U.S. stock futures are pointing higher this Wednesday, November 26, 2025, as investors eagerly anticipate potential interest rate cuts from the Federal Reserve and digest a flurry of corporate news. The premarket rally builds on strong gains from earlier in the week, with optimism surrounding a dovish shift in monetary policy driving sentiment.
Premarket Activity and Index Futures
All three major U.S. stock index futures are showing positive movement in premarket trading. S&P 500 futures are up approximately 0.3% to 0.4%, while Nasdaq 100 futures are leading the charge with gains of around 0.4% to 0.5%. Dow Jones Industrial Average futures are also trading higher, advancing by roughly 0.2% to 0.3%. This upward trend suggests a continuation of the rally seen in recent days, with the S&P 500 poised to extend a three-day, 3.5% surge.
Yesterday's trading session saw significant advances across the board, with the Dow Jones Industrial Average climbing 1.43%, the S&P 500 surging 0.91%, and the Nasdaq Composite rising 0.67%. This broad-based momentum is largely attributed to increasing expectations for a December rate cut by the Federal Reserve, a sentiment bolstered by recent weaker-than-expected retail sales data and dovish remarks from central bank officials. Speculation that Kevin Hassett could be the next Fed chair, known for supporting lower borrowing costs, has further fueled these rate-cut hopes.
Upcoming Market Events
Today is a busy day for economic data and corporate earnings, which could provide further direction for the markets ahead of the Thanksgiving holiday.
Economic Data Releases
Investors are closely watching several key economic reports scheduled for release today. These include the Federal Reserve's Beige Book, which provides a summary of current economic conditions across the twelve Federal Reserve districts. Additionally, weekly jobless claims, durable goods orders for September and October, the second estimate for 3Q GDP, and new home sales for October are all due. The Chicago Business Barometer, also known as the ISM-Chicago Business Survey or Chicago PMI for November, along with the EIA Weekly Petroleum Status Report, September Retail Inventories, and September Personal Income and Outlays, will also be released. Some of these releases, such as September retail sales and producer price figures, were previously delayed. The influx of this data will be crucial for gauging the health of the U.S. economy and its potential influence on the Federal Reserve's monetary policy decisions.
Earnings Reports
A few notable companies are reporting their quarterly results today. Deere & Co. (DE) is slated to release its earnings, which will be closely watched for insights into the agricultural and heavy equipment sectors. Electric vehicle manufacturer Li Auto (LI) also announced its unaudited third-quarter 2025 financial results, reporting a net loss of RMB624.4 million (US$87.7 million) and a decrease in total revenues and gross profit compared to the previous year. Best Buy is another prominent retailer reporting earnings today, offering a look into consumer electronics spending. Noah Holdings Limited (NOAH) also reported its Q3 2025 earnings, highlighting solid overseas AUA/AUM growth and full AI integration.
Major Stock News and Developments
Corporate news continues to drive significant stock movements, particularly within the technology sector as companies navigate the evolving landscape of artificial intelligence.
Alphabet (GOOGL) is experiencing a strong premarket surge, with shares rising approximately 1.9% and touching a new 52-week high. The Google parent is nearing a staggering $4 trillion valuation, fueled by reports that Meta Platforms (META) may begin using Google's Tensor Processing Units (TPUs) for its AI infrastructure as early as 2027. This development highlights the intensifying competition and collaboration within the AI chip market.
Conversely, Nvidia (NVDA) is facing some pressure, with its stock down in premarket trading and having experienced a 2.6% loss yesterday. Concerns about increased competition from Google's AI chips and Meta's potential shift away from Nvidia's GPUs are weighing on investor sentiment.
Dell Technologies (DELL) is seeing positive momentum, with shares rising nearly 5% in premarket trading after the company raised its full-year guidance and forecast. Dell is targeting $25 billion in AI server shipments for fiscal year 2026, indicating strong demand in the AI infrastructure space.
In other corporate news, HP Inc. (HPQ) announced plans to cut between 4,000 and 6,000 employees through fiscal year 2028 as it aims to integrate more AI tools into its operations. The stock fell more than 5% in premarket trading and 4.5% yesterday.
Specialty retailer Urban Outfitters (URBN) is experiencing a significant boost, with shares leaping 17% ahead of the open and soaring 18% yesterday, following strong sales performance from its namesake brand.
Software company Workday (WDAY) hiked its annual forecast, but its shares dropped 5.5% in premarket trading. Meanwhile, Autodesk (ADSK) raised its sales outlook, leading to a 7% rise in its shares before the bell.
Financial services platform Robinhood (HOOD) is expanding its offerings by launching an exchange with Susquehanna International to delve into prediction markets, with its shares rising 1.5% in premarket.
Several other companies reported strong earnings. Agilent Technologies Inc. (A) saw its shares rise 2.3% after exceeding fourth-quarter fiscal 2025 revenue estimates. Keysight Technologies Inc. (KEYS) jumped 10% following stronger-than-expected earnings, a new buyback plan, and a price target hike. Semtech Corp. (SMTC) gained 2.5% after beating third-quarter fiscal 2025 adjusted earnings per share estimates. Robotics company Symbotic Inc. (SYM) soared an impressive 39.4% after reporting robust fourth-quarter fiscal 2025 adjusted earnings that significantly beat expectations and providing upbeat guidance.
In the semiconductor space, Advanced Micro Devices (AMD) dropped 4.15% yesterday after Mizuho flagged Google's TPU advancements as a potential challenge for AMD's GPU business.
Outside of tech, Barrick Mining Corporation (B, ABX) announced changes to its board of directors today. Warner Music Group (WMG) settled a landmark lawsuit with AI music firm Suno and announced a joint venture to allow artists to opt-in to AI-generated music creation. Furthermore, Foxconn Technology has secured approval to invest an additional $569 million in Wisconsin to build AI infrastructure. E-commerce giant Amazon (AMZN) also revealed plans to invest $15 billion in data centers in Northern Indiana and up to $50 billion to expand AI capabilities for U.S. government clients.
As the market approaches the Thanksgiving holiday, investors will continue to monitor economic indicators and corporate developments, with a keen eye on any further signals regarding the Federal Reserve's future interest rate decisions.
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.