US stock futures are showing positive movement this Monday morning, fueling hopes for a market rebound as investors gear up for a shortened Thanksgiving trading week. This comes after a recent pullback that has tempered the year's strong AI-driven market rally.
Futures Market Overview
As of early Monday trading, Dow Jones Industrial Average futures (YM=F) are up approximately 0.2%. The S&P 500 futures (ES=F) are showing even greater gains, advancing by 0.5%. The Nasdaq-100 futures (NQ=F) are leading the charge, climbing 0.7%.
Holiday Trading Schedule
US markets will be closed on Thursday in observance of the Thanksgiving holiday. Trading will resume on Friday, but markets will close early at 1 p.m. ET.
Rebound Attempt After November Losses
These Sunday movements signal an attempt by equities to build on Friday's rebound. This follows comments from Federal Reserve Bank of New York president John Williams, who suggested that a December interest rate cut remains a possibility. However, major indexes have experienced significant losses throughout November as investors re-evaluate high valuations, particularly in AI-related stocks.
Recent Market Performance
- The S&P 500 declined by 2% last week, pushing its month-to-date decrease to around 3.5%.
- The Nasdaq Composite dropped 2.7% and is now down over 6% in November.
- The Dow fell nearly 2% over the week and is off almost 3% for the month.
Economic Data and Earnings to Watch
With the impact of the recent government shutdown still lingering, economic data is slowly returning. Traders will be closely watching producer price data from the Bureau of Labor Statistics and retail sales figures from the Census Bureau, both scheduled for release on Tuesday. Earnings season continues with reports from Alibaba Holdings (BABA), Dell Technologies (DELL), and retailers such as Kohl's (KSS) and Best Buy (BBY).
Ongoing Concerns
President Trump's tariffs remain a concern for investors, and the Supreme Court is expected to issue a ruling on related matters.