As Thursday, November 27, 2025, unfolds, the United States stock markets are observing a full-day closure in observance of the Thanksgiving holiday. This pause in US trading activity follows a robust four-day winning streak for major indexes, driven primarily by increasing optimism surrounding potential Federal Reserve interest rate cuts in December and a renewed enthusiasm for artificial intelligence (AI) related stocks. While American investors enjoy the holiday, global markets have largely taken their cue from Wall Street's recent momentum, with Asian and European bourses posting gains.
Wednesday's US Market Performance
Prior to the Thanksgiving holiday, US stocks closed broadly higher on Wednesday, November 26, 2025, extending their rally for a fourth consecutive session. The Dow Jones Industrial Average (DJIA) rose by 0.67%, or 314.67 points, to close at 47,427.12. The S&P 500 (SPX) added 0.69%, or 46.73 points, reaching 6,812.61. Meanwhile, the technology-heavy Nasdaq Composite (IXIC) led the charge with an increase of 0.82%, or 189.1 points, closing at 23,214.69. This upward trend was significantly fueled by strengthening expectations of a Federal Reserve rate cut at its upcoming December meeting, with the CME FedWatch tool indicating an 85% probability of such a move. The Volatility Index (VIX), often referred to as the "fear index," simultaneously declined by 7.38% to 17.19, reflecting easing market anxieties.
The midweek rally saw solid gains across various sectors, with technology companies playing a pivotal role. Major tech players like Microsoft (MSFT) gained 1.8% and Nvidia (NVDA) rose 1.4%, as the AI trade regained significant momentum. Oracle (ORCL) also saw a 4% jump after a bullish reiteration from Deutsche Bank. However, not all tech giants participated in the rally, with Google parent company Alphabet (GOOGL) falling 1%. Financial sector stocks also contributed to the market's uplift, with Robinhood Markets (HOOD) surging 10.9% after announcing plans to launch a futures and derivatives exchange next year. On the other hand, Deere & Company (DE) tumbled 5.7% following a downbeat forecast for the current year.
Global Market Activity on Thanksgiving Day
While US markets remained shuttered, global equities largely mirrored the positive sentiment from Wednesday's Wall Street performance. Asian markets closed mostly higher, with Japan's Nikkei 225 rising 1% to 50,069.33, buoyed by the same Federal Reserve rate cut expectations. South Korea's Kospi also added 0.7% to 3,986.54, with tech stocks leading gains. Chinese markets, however, showed a mixed performance, with the Shanghai Composite edging up 0.1% and Hong Kong's Hang Seng picking up 0.3%, but some profit-taking was observed in tech stocks.
In Europe, markets also saw modest gains. Germany's DAX was up 0.4%, France's CAC 40 rose 0.2%, and London's FTSE 100 index increased by 0.1%. Sportswear maker Puma (PUMSY) was a notable riser, up 13%, on reports of a potential takeover interest. The Canadian S&P/TSX composite index also climbed in late-morning trading, supported by strength in technology, telecommunication, and energy sectors.
Upcoming Market Events
Looking ahead, investors will be keenly watching a series of economic data releases and policy decisions in the coming weeks. The Federal Reserve's next FOMC meeting on December 10, 2025, is highly anticipated, with a strong probability of an interest rate cut.
Key economic indicators scheduled for release in early December include:
- December 1: Markit PMI Manufacturing SA (Final), ISM Manufacturing, Construction Spending SA M/M.
- December 2: JOLTS Job Openings.
- December 3: ADP National Employment Report, ISM Services Business Activity.
- December 5: Employment Situation, Michigan Consumer Survey (Preliminary).
- December 10: Consumer Price Index (CPI).
These reports will provide crucial insights into the health of the US economy and could further influence the Federal Reserve's monetary policy decisions. The OECD is also set to release its latest Economic Outlook on Tuesday, December 2, 2025, offering analysis and projections for the global economy.
Major Stock News and Corporate Announcements
Despite the US market holiday, several companies have been in the news over the past 24 hours with significant corporate announcements and stock movements.
US Companies:
- HP Inc. (HPQ) reported its fiscal 2025 full-year and fourth-quarter results on November 25, with net revenue of $55.3 billion, up 3.2% from the prior year. Personal Systems net revenue was up 8% year over year.
- Best Buy Co., Inc. (BBY) announced its Q3 FY26 results on November 25, raising its FY26 adjusted diluted EPS guidance. Domestic revenue increased 2.1%, driven by comparable sales growth in computing, gaming, and mobile phones.
- Analog Devices, Inc. (ADI) reported strong fourth-quarter and fiscal 2025 financial results on November 25, with fiscal 2025 revenue of $11.0 billion, up 17% versus 2024.
- Wipro (WIT) announced a strategic alliance with the Indian Institute of Science (IISc) and the Foundation for Science Innovation and Development (FSID) to accelerate breakthroughs in agentic AI, embodied AI, quantum AI, and quantum-safe solutions.
International Companies (with potential global impact):
- Paytm (PAYTM) was in focus after its parent company, One97 Communications, received final approval from the Reserve Bank of India to operate as a payment aggregator, strengthening its digital payments business.
- Whirlpool India (WHIRLPOOL.NS) shares saw movement after reports indicated its promoter plans to sell 9.5 million shares at a discount.
- Asian Paints (ASIANPAINT.NS) drew investor interest after announcing plans for a second paint manufacturing facility in the UAE, an investment of approximately ₹340 crore.
- Bharti Airtel (BHARTIARTL.NS) remained active after a promoter entity sold a stake worth over ₹7,000 crore.
The market continues to navigate a landscape shaped by central bank policy expectations, technological advancements, and ongoing corporate developments. While US investors take a break for Thanksgiving, the global market pulse remains strong, anticipating further clarity on economic trajectories and monetary policy shifts in the weeks to come.
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.