Post-Market Recap: November 28, 2025

U.S. stocks closed higher for the 5th consecutive day on November 28, 2025, with major indices extending gains amid growing expectations of a December Federal Reserve rate cut and positive Black Friday retail sentiment. The S&P 500 approached critical technical resistance levels, while Intel’s double-digit surge led broad-market gains, offsetting losses in Nvidia and Eli Lilly. Key themes included sector rotation toward energy and consumer defensive stocks, reduced volatility, and after-hours earnings releases from global companies [1][3][4].

• Indices
  : The S&P 500 closed at 6849.08 (+0.5%), Dow Jones Industrial Average at 47671.22 (+0.6%), Nasdaq Composite at 23365.69 (+0.7%), and Russell 2000 at 2500.43 (+0.6%) [0][3].
• Sectors
  : Energy (+1.14%) outperformed, while Financial Services (+0.01%) lagged [0].
• Breadth
  : Advancers outnumbered decliners 3.37:1 on the NYSE and 2.13:1 on the Nasdaq [2].
• Sentiment
  : The CBOE Volatility Index (VIX) fell 7.4% to 17.19, indicating reduced market anxiety [2].

1. Fed Rate Cut Expectations
   : Stocks rallied over the past week on hopes for a December rate cut, driving the 5-day winning streak [3].
2. Intel Surge
   : Intel (INTC) led the S&P 500 and Nasdaq with a 10%+ gain, though the specific catalyst wasn’t immediately clear [1].
3. Black Friday Retail Activity
   : Consumer-focused stocks like Brown-Forman (BF.A/BF.B +1.5%) and Lululemon (LULU +2%) gained, reflecting positive holiday shopping sentiment [1].
4. Technical Resistance
   : The S&P 500 approached a confluence of resistance levels—78.6% Fibonacci retracement of the recent decline and gap fill—posing a potential hurdle for bulls [4].
5. After-Hours Earnings
   : Meituan, British American Tobacco (BTI), and Grupo Mexico reported earnings after the bell, with initial market reactions pending [5].

• Day Gainers
  : Intel (INTC +10%—top S&P 500 mover), Lululemon (LULU +2%—retail), Brown-Forman (BF.A/BF.B +1.5%—consumer defensive) [1].
• Day Losers
  : Eli Lilly (LLY -3%—biggest S&P decliner), Nvidia (NVDA -1.8%—worst in Nasdaq/Dow), Deere (DE -5.7%—missed EPS), HP Inc. (HPQ -1.4%—missed revenue) [1][2].
• After-Hours
  : Heartbeam (BEAT +40.75%—unusual gain), Beneficient (BENFW -8.77%—decline) [6].

• Upcoming Catalysts
  : December Fed meeting (rate cut decision), Cyber Monday retail data, and ongoing earnings reports from Meituan and British American Tobacco [3][5].
• Technical Levels
  : Watch the S&P 500’s resistance at the 78.6% Fibonacci retracement and gap fill; a break above could signal further gains, while failure may trigger a reversal [4].
• Risk Factors
  : Japanese 10-year yield as a potential global shock (high debt-to-GDP ratio) and overstretched technical conditions after the 5-day rally [4].
• Sentiment
  : Continue monitoring rate cut expectations and holiday sales data for directional cues [3].

All data is as of November 28, 2025, 4:00 PM ET. This report is for informational purposes only and not investment advice.