Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 25, 2025.
Brendan McDermid | Reuters
Stock futures are near the flatline Tuesday night after back-to-back winning sessions for major averages.
Futures tied to the Dow Jones Industrial Average ticked up 21 points, 0.04%. S&P futures and Nasdaq 100 futures were both nearly unchanged.
The three U.S. stock indexes ended Tuesday higher after a volatile trading session. The 30-stock Dow Jones Industrial Average closed up more than 660 points, or 1.4%, and logged a third consecutive positive session. Several tech stocks also climbed higher to lift the broader market. Alphabet hit fresh record highs on a report that Meta Platforms is considering using the Google parent’s TPU chips in 2027. Chipmaker Nvidia shed more than 2.5%, meanwhile.
“Stocks are trying to stage a comeback from the past few weeks of declines, suggesting that dip buyers are still out in full force,” said Clark Bellin, president and chief investment officer of Bellwether Wealth. “The depth of the market’s pullback in November was only about 4% from the late October high, which is well below the typical 10% correction threshold.”
“While we expect the stock market to revisit these highs, there isn’t an obvious upside catalyst to propel the market between now and the end of the year,” Bellin added.
Investors continue to monitor catalysts that could affect the Federal Reserve’s next interest rate move. Traders are pricing in a roughly 85% chance of a quarter percentage point cut from the Fed in December, according to the CME FedWatch tool.
Treasury Secretary Scott Bessent told CNBC earlier Tuesday that there’s a “very good chance” that Trump will “make an announcement before Christmas” on who will be the next Fed chair. While he said he was interviewing candidates, expectations are shifting toward White House National Economic Council Director Kevin Hassett, after Bloomberg reported he had emerged as a frontrunner for the job. Hassett is viewed as someone more likely to push for lower rates.
Looking at the overall picture, November has proven to be a difficult month for stocks. All three U.S. indexes are tracking for a losing month as concerns about elevated valuations have cooled the momentum behind some high-flying tech stocks. The S&P 500 is down about 1.1% in November, while the tech-heavy Nasdaq Composite has lost nearly 3%. The Dow has declined about 1% month to date.
Google-parent Alphabet has closed at 13 all-time highs in November
Google and YouTube parent Alphabet closed at another all-time high Tuesday for the 13th time in November, the third day in a row and fourth day in five. With 17 trading days in November thus far, Alphabet has closed at a record high more than 76% of the time this month.
Driven at least in part by optimism toward its Gemini 3 artificial intelligence platform, Alphabet has now soared more than 24% in the past month, 55% in the past three months and has nearly doubled in the past six months, climbing 92%.
Although Alphabet’s 14-day relative strength index, a momentum indicator, stands at 76.8 today, it was even higher at 87.6 in mid-September. Any reading above 70 is usually interpreted on Wall Street as signaling that a stock is overbought.
Alphabet soars 55% in three months.
— Scott Schnipper
HP Inc, Urban Outfitters and Dell are among the stocks moving Tuesday evening
Check out the companies making headlines in after-hours trading.
- HP Inc. — Shares of the computer and printer manufacturer fell more than 5% after issuing disappointing guidance and saying it would cut 10% of its workforce. Fiscal fourth-quarter results beat on the top and bottom line, but the company warned it will need to cut 6,000 jobs as its ramps up its adoption of artificial intelligence. CEO Enrique Lores said the effort will ultimately produce $1 billion in annualized gross run rate savings over the next three years.
- Urban Outfitters — The retail stock jumped about 17% in extended trading on the back of strong third-quarter results. Urban Outfitters earned $1.28 per share, topping the $1.20 per share estimate from LSEG. Urban’s revenue for the period came out at $1.53 billion, exceeding analysts’ expectations of $1.47 billion.
- Dell Technologies — Shares rose nearly 3% despite weaker-than-expected third-quarter revenue. Dell, however, forecasted a stronger-than-expected fourth quarter driven by increased AI sales.
For the full list, read here.
— Pia Singh
