US Stock Market Today: S&P 500 Futures Rally as Rate Cut Bets Surge

The Morning Bull - US Market Morning Update Monday, Nov, 24 2025

US stock futures are pointing higher as the opening bell approaches, with the E-mini S&P 500 futures up nearly 0.7% and the Nasdaq-100 futures ahead by about 1%. The big story is consumer confidence, which inched up to 51.0 in November but remains close to historic lows. This means many Americans still feel squeezed by high prices and slower wage growth. At the same time, investors are paying close attention to fresh signals from the Federal Reserve, with the odds of a rate cut in December climbing above 70% after inflation expectations cooled to 4.5%. The main question now is whether companies that depend on consumer spending can keep growing if shoppers remain cautious, and if banks and real estate firms will get a boost from falling borrowing costs or get held back by a still-worried public.

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Top Movers

• Lumentum Holdings (LITE) jumped 9.58% with no major news released.
• Ross Stores (ROST) soared 8.41% following robust Q3 results, buyback updates, and raised guidance that lifted analyst targets.
• Rocket Companies (RKT) climbed 7.85% with no major news released.

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Top Losers

• Veeva Systems (VEEV) tumbled 9.77% after earnings, guidance, and analyst downgrades outweighed healthy revenue growth.
• Oracle (ORCL) slid 5.66% as ongoing market value losses continued even with recent board changes.
• Snowflake (SNOW) declined 4.34%.

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On The Radar

Earnings season remains in focus as major tech, retail, and industrial names are set to deliver results that will headline market action.

• Analog Devices (ADI) reports Q4 results early Tuesday. This will offer clues on chip demand trends and guidance after recent sector volatility.
• Workday (WDAY) unveils Q3 earnings after the bell Tuesday, with investors watching subscription growth and enterprise software momentum.
• HP (HPQ) releases Q4 numbers Tuesday, spotlighting PC and printer demand prospects in a crowded hardware market.
• Alibaba Group Holding (BABA) will post Q2 results pre-market Tuesday, providing a pulse check on China’s consumer recovery and e-commerce outlook.
• Li Auto (LI) announces Q3 earnings pre-market Wednesday, as EV investors look for delivery growth and profitability targets from a key China player.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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