Market Analysis Report: November 28, 2025

On November 28, 2025 (EST), Benzinga reported that Wall Street was on track for its fifth consecutive day of gains, driven by surging Federal Reserve rate cut hopes and renewed risk appetite across tech, crypto, and commodities sectors. Silver hit a record high of $55 per ounce, while Bitcoin rebounded amid stabilizing sentiment [1].

Major U.S. indices posted their fifth straight day of gains on November 28:

• NASDAQ Composite
  : Led with a ~4.9% gain over the 5-day period (Nov 21–28), closing at 23,365.69 (+0.32% day)
• S&P 500
  : Closed at 6,848.48 (+0.38% day), up ~3.72% over 5 days
• Dow Jones
  : Closed at 47,671.22 (+0.40% day), up ~3.1% over 5 days [0]

Sector performance showed broad gains:

• Energy
  : Top performer (+1.16%)
• Healthcare
  : Only sector with a minor decline (-0.06%) [0]

The rally is tied to shifting Fed rate cut expectations:

• Markets now price an
  81–85% chance
  of a 25bp cut in December, a sharp pivot from split odds a week earlier [7][8][9]
• This boosted risk assets:
  • Silver hit a record high of $55.66/ounce (+4.2% day) [2][3]
  • Bitcoin rebounded to ~$91k–$92k after recent volatility [4][5]

Crypto market sentiment exited the “extreme fear” zone to “fear,” indicating improving investor confidence [6].

• U.S. indices: ^GSPC, ^IXIC, ^DJI
• Commodities: Silver (spot)
• Crypto: Bitcoin (BTC)

• Energy
  : Leading gains amid rate cut hopes
• Tech
  : NASDAQ outperformance
• Communication Services
  : Top 3 performer (+0.81%) [0]

• Silver mining stocks (e.g., Pan American Silver [PAAS] mentioned in [3])
• Crypto-related equities (implied by Bitcoin rebound)

1. Rate Cut Drivers
   : Exact reason for the sudden shift in rate cut odds (from split to 85% in a week) [9]
2. Silver Demand
   : Whether the record high is supported by industrial demand (e.g., solar) or only rate cut hopes [2]
3. Bitcoin Sustainability
   : Rebound durability amid upcoming Senate regulatory bill vote [6]

While rate cut hopes drive gains, some Fed policymakers may prefer to hold rates steady (e.g., split FOMC views in September) [7]. For silver, both rate cuts (lower opportunity cost) and industrial demand could be factors—but need to verify. Bitcoin’s rebound comes after a sell-off, but volatility remains high [6].

• Rate Cut Reversal
  : If the Fed does not cut rates in December, current gains (priced in on expectations) could reverse sharply [7][9]
• Bitcoin Volatility
  : Regulatory risks (Senate bill) mean the rebound may not be sustainable [6]
• Silver Profit-Taking
  : Record highs could face pressure from short-term traders [2]

1. December 9–10 Fed meeting outcome [7]
2. Silver industrial demand data
3. Bitcoin regulatory developments (Senate bill vote) [6]
4. Upcoming inflation/jobs data influencing Fed decisions

[0] Ginlix Analytical Database (market indices, sector performance)
[1] Benzinga. “Wall Street Eyes Fifth Day Of Gains, Silver Hits Record Highs At $55: What’s Moving Markets Friday?” https://www.benzinga.com/markets/equities/25/11/49119692/markets-today-black-friday-wall-street-update-silver-record-highs-intel-bitcoin-price (2025-11-28)
[2] Bloomberg. “Spot Silver Hits Fresh Record After Surpassing October Peak.” https://www.bloomberg.com/news/articles/2025-11-28/spot-silver-hits-fresh-record-after-surpassing-october-peak (2025-11-28)
[3] Yahoo Finance. “Spot Silver Hits Fresh Record.” https://finance.yahoo.com/news/spot-silver-hits-fresh-record-141645431.html (2025-11-28)
[4] Yahoo Finance. “Bitcoin Futures, Nov-2025 (BTC=F).” https://finance.yahoo.com/quote/BTC%3DF/ (2025-11-28)
[5] Investopedia. “Top Stock Movers Now: Intel Rises, Nvidia and Oracle Slip; Bitcoin Price Near $92,000.” https://www.investopedia.com/top-stock-movers-now-intel-rises-nvidia-and-oracle-slip-bitcoin-price-near-usd92000-11858623 (2025-11-28)
[6] Yahoo Finance. “Why Is Crypto Down Today? – November 28, 2025.” https://finance.yahoo.com/news/why-crypto-down-today-november-121309857.html (2025-11-28)
[7] Forbes. “What To Watch For From The Fed’s December Meeting.” https://www.forbes.com/sites/simonmoore/2025/11/26/what-to-watch-for-from-the-feds-december-meeting/ (2025-11-26)
[8] Yahoo Finance. “Dollar Pressured by Fed Rate Cut Expectations.” https://finance.yahoo.com/news/dollar-pressured-fed-rate-cut-154135724.html (2025-11-28)
[9] Investopedia. “A December Fed Cut Is in Play Again—But What Would It Really Mean for Mortgage Rates?” https://www.investopedia.com/a-december-fed-cut-is-in-play-again-but-what-would-it-really-mean-for-mortgage-rates-11856959 (2025-11-28)

This report provides factual information for decision-making and is not investment advice. Always conduct independent research before making financial decisions.