The U.S. stock market observed its Thanksgiving Day closure on Thursday, with a planned reopening for a shortened trading session on Friday, concluding at 1 p.m. ET. As the month draws to a close, major U.S. indexes are projected to finish November lower, as indicated by CNBC calculations.
As of Wednesday’s market close, the S&P 500 dipped 0.4% month-to-date, while the Dow Jones Industrial Average fell by 0.29%. The Nasdaq Composite faced a more significant retreat, down 2.15%, largely attributed to challenges in the technology sector this month. Unless a dramatic upswing occurs during the limited trading hours on Friday, the indexes are likely to break their winning streaks. The S&P 500 and Dow Jones have enjoyed a six-month ascent, whereas the Nasdaq has rallied for seven consecutive months.
This potential decline would diverge from historical market trends, as the S&P 500 has typically risen by an average of 1.8% in November since 1950, and post-presidential election years have historically yielded a 1.6% increase. However, this year has not adhered to expected patterns, raising concerns about future market movements.
Trading futures reflected a mostly flat outlook Thursday evening following the holiday break. In Europe, the Stoxx 600 index inched up by 0.14%, recovering from earlier losses. Meanwhile, several notable developments unfolded.
In consumer technology, Alibaba introduced Quark AI Glasses, available in two variants priced at 1,899 Chinese yuan ($268) and 3,799 yuan, positioning itself competitively against Meta’s $799 Ray-Ban Display glasses.
On the regulatory front, Apple initiated legal proceedings against India’s antitrust authority. The Competition Commission of India is investigating complaints regarding Apple’s in-app purchase policies, with the potential for a substantial fine that could reach $38 billion, reflective of the company’s global turnover.
Internationally, Russian President Vladimir Putin expressed readiness for “serious” discussions regarding peace, stating that a U.S.-led framework could serve as a basis for future agreements. He noted that the U.S. appeared to consider Moscow’s position in these discussions.
From an investment perspective, Bank of America projected limited growth for the S&P 500 in 2026, anticipating only single-digit increases due to a decline in supporting factors.
In Europe, while there is acknowledgment that the continent may not dominate in constructing facilities for AI hyperscalers or training, experts suggest it could find success in developing smaller, cloud-focused and connectivity-driven facilities. Seb Dooley, a senior fund manager at Principal Asset Management, highlighted the unique long-term value that comes from overcoming significant challenges in this sector.
