Opening Comment — Monday, November 24, 2025
DJIA: 46,245.41, up 493.15
S&P 500: 6,602.99, up 64.23
NASDAQ: 22,273.08, up 195.03
Stocks higher to start off week
Stock futures are higher Monday morning as investors are awaiting tomorrow’s key data releases, including September’s retail sales and Producer Price Index (PPI), along with October’s pending home sales and November consumer confidence. As of 7:16 AM ET, the Dow is rising 0.1%, while the S&P 500 is up 0.3%. The Nasdaq 100 is increasing 0.6% relative to fair value on the GLOBEX.
U.S. equities were higher on Friday as S&P Global’s preliminary November purchasing managers’ index (PMI) data indicated greater expansion in services and less growth in manufacturing compared to the prior month. Meanwhile, the finalized reading of November consumer sentiment from the University of Michigan came in at 51.0, slightly above the preliminary reading of 50.3, as the one-year and 5–10-year inflation expectations were revised downward. The Dow was up 1.1%, while the tech-heavy Nasdaq Composite rose 0.9%. The S&P 500 increased 1.0% with all 11 sectors finishing in positive territory. The Communication Services sector was the top performer, rising 2.2%, while the Utilities sector was the bottom performer, ending the day little changed.
On the data front, the Federal Reserve (Fed) Bank of Dallas’s Texas Manufacturing Outlook Survey for November will be released, with the general business activity index expected to come in at negative 2.0, up from the prior month’s negative 5.0. The release of October’s Chicago Fed National Activity Index scheduled for today is delayed due to the lack of available data.
Across the pond, European stocks are mixed in mid-day trading as Germany’s Ifo Business Climate Index unexpectedly declined in November, falling to 88.1.
Overnight in Asia, stocks were mostly higher as Japanese markets were closed for Labor Thanksgiving Day.
In FOREX trading, the U.S. dollar is slightly lower to start off the holiday-shortened week.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.2% lower at $57.93/barrel.
In the metals complex, gold is 0.1% higher at $4,070.37/ounce following a weakening U.S. dollar.