Market Overview Report: November 24, 2025

The U.S. stock market rallied sharply on November 24, 2025, driven by a confluence of positive catalysts: Treasury Secretary Scott Bessent’s reassurance of no 2026 recession, rising Federal Reserve rate cut expectations, and a strong rebound in artificial intelligence (AI) stocks. The tech-heavy Nasdaq Composite led gains with a 2.7% jump, while the S&P 500 rose 1.5% and the Dow Jones Industrial Average added 0.4% [7]. Sector performance was led by Utilities (+3.23%), Energy (+2.09%), and Technology (+2.08%) [0].

• S&P 500
  : +1.5% to 6,705.12 [7]
• Nasdaq Composite
  : +2.7% to 22,872.01 [7]
• Dow Jones
  : +0.4% to 46,448.27 [7]
• Russell 2000
  : +1.9% to 2,414.28 [7]

Top performers included:

• Utilities (+3.23%)
• Energy (+2.09%)
• Technology (+2.08%)

Worst performers:

• Consumer Defensive (-1.29%)
• Basic Materials (-0.40%) [0]

1. No Recession in 2026
   : Treasury Secretary Scott Bessent stated on Sunday that the U.S. is not at risk of a recession next year, citing confidence in President Trump’s tariffs, trade deals, and upcoming policy changes (e.g., health care cost reductions). He acknowledged struggles in housing and interest-rate-sensitive sectors but emphasized “very, very optimistic” growth prospects [6].

2. Fed Rate Cut Expectations
   : The CME FedWatch Tool now shows a 71% probability of a 25-basis-point rate cut in December, up from 39.1% before New York Fed President John Williams’ comments last week. Lower rates are expected to boost holiday season consumption [9].

3. AI Sector Rebound
   : Tech stocks led the rally, with Alphabet (GOOG/GOOGL) rising 6.3% on continued momentum from its Gemini 3 AI model launch. Tesla (TSLA) jumped ~7% after CEO Elon Musk’s post about EV chip production scaling, while Broadcom (AVGO) and Micron (MU) each gained over 7% [8].

4. Trump Policy Hopes
   : Bessent highlighted upcoming policy details (e.g., health care cost reductions) and the impact of Trump’s “big, beautiful bill” on disposable income, including capped overtime taxes and deductible auto loans [6].

• Alphabet (GOOG/GOOGL)
  : +6.3% (Gemini AI momentum) [8]
• Tesla (TSLA)
  : +7% (EV chip production comments) [8]
• Broadcom (AVGO)
  : +7% (AI chip demand) [8]
• Micron (MU)
  : +7% (memory chip growth) [8]

• Holiday Shortened Week
  : Trading will be abbreviated due to Thanksgiving on Thursday [7].
• Fed Policy
  : Market focus remains on the December rate decision (71% cut probability) [9].
• AI Developments
  : Google’s Gemini 3 rollout and Tesla’s chip plans will continue to influence tech stocks [16].
• Policy Details
  : Bessent promised health care cost reduction announcements this week [6].

Disclaimer: This analysis is for informational purposes only and does not constitute investment advice.
All data is sourced from internal tools and external publications as cited.
Market conditions are subject to rapid change.