Wall St ends higher on growing bets for December Fed rate cut

Wall St ends higher on growing bets for December Fed rate cut

By Stephen Culp

Wed November 26, 2025 4:24 PM

For a fourth day the indexes shot straight up into 3-digit gains once again on the sudden and unexpected reversal of sentiment over a December rate cut. Besides the odds of a December cut now standing at 84.9%, and the S&P expected to rise 12% in the next year, a major trigger today was that in addition to Nvidia’s upbeat Q3 last week, today AI server maker Dell turned in a glowing Q4 forecast, pumping more optimism into the AI outlook and getting tech back on a buying spree.  

Government reports were mixed, showing capital goods orders and corporate expenditures up as well as lower unemployment though the trend in claims remains upward and the labor market is deteriorating, the trick still being that all this data is considered stale. Airlines are up because air traffic is up with traffic considered a barometer of economic health. At 14.78 billion, volume is way below the 19.49 average as we head into a major holiday weekend.  

DJ: 47,112.45  +664.18        NAS: 23,025.59  +153.59       S&P: 6,765.89  +60.77         11/25

DJ: 47,427.12  +314.67        NAS: 23,214.69  +189.10       S&P: 6,812.61  +46.73         11/26

Wed 11-26-25 4:24 pm Wall St ends higher on growing bets for December Fed rate cut | Reuters