A trader works on the floor of the New York Stock Exchange on Aug. 4, 2022.
Source: NYSE
Stock futures climbed in overnight trading Sunday as the market seeks to rebound into the Thanksgiving holiday week after a slide that’s knocked the air out of this year’s AI bull run.
Futures on the Dow Jones Industrial Average gained 200 points. S&P 500 futures rose 0.6% and Nasdaq-100 futures increased 0.8%. The stock market is closed on Thursday for Thanksgiving Day, and it shuts down early at 1 p.m. ET on Friday.
Stocks are attempting to build on a strong rebound that started on Friday, after the head of the New York Federal Reserve left the door open to a December interest rate cut. Major averages have still stumbled sharply since the month began, pressured by a reconsideration of sky-high valuations across artificial intelligence-linked names that had powered much of 2025’s market gains.
The S&P 500 slipped 2% last week, bringing its November decline to 3.5%. The Nasdaq Composite shed 2.7% in the prior week and is down 6.1% for the month. The 30-stock Dow fell 1.9% last week and is off 2.8% month-to-date.
The final stretch of November may be no easier. With trading volumes expected to thin out in the coming days and few meaningful catalysts ahead of the Fed’s December policy meeting, volatility could pick up.
“Investors hate noise. They crave certainty, and the market simply cannot deliver that right now,” Mark Malek, CIO at Siebert Financial, said in a note.
Key macro events this week include October U.S. retail sales and October Producer Price Index data on Tuesday, both of which could help shape expectations heading into the Fed’s final meeting of the year.