Wall Street extends gains into Thanksgiving as chip stocks rebound
U.S. equities pushed to session highs on Wednesday, with the Dow, S&P 500 and Nasdaq up roughly 0.7%–0.8%. A broad semiconductor bounce and steady megacap tech demand lifted risk appetite into the holiday, while thin pre-Thanksgiving liquidity heightened momentum.
Stocks at session highs; semiconductors lead
All three major benchmarks traded near the day’s peaks, adding to strong week-to-date advances. Semiconductor names outperformed: Nvidia climbed back above $180, Broadcom extended its run, and AMD and Intel bounced after recent weakness. Alphabet eased, while Microsoft and Amazon edged higher.
Key points
- Dow Jones Industrial Average +0.70%; S&P 500 +0.72%; Nasdaq Composite +0.80% (midday)
- Week to date: Dow +2.57%; S&P 500 +3.22%; Nasdaq +4.23%
- Chip rally: Nvidia +1.67% (back above $180), Broadcom +2.52%, AMD +3.04%, Intel +3.07%
- Megacaps mixed: Alphabet -1.24%; Microsoft +1.78%; Amazon +0.61%
- Holiday schedule: U.S. equities closed Thursday; Friday early close at 1 p.m. ET. U.S. bond market scheduled to close at 2 p.m. ET Friday.
- Thin liquidity into the holiday can amplify intraday swings and compress FX volatility
Week-to-date: momentum broadens into holiday
The S&P 500 and Nasdaq extended a multi-session climb, with cyclical participation improving alongside technology leadership. Traders cited a constructive tape into the holiday period, typical for late November, with positioning and year-end performance chasing keeping dips shallow.
Market mechanics and hours
U.S. stock markets operate on regular hours Wednesday, close for Thanksgiving Day on Thursday, and reopen Friday for a shortened session (1 p.m. ET close). The bond market is set for an early 2 p.m. ET close on Friday. Thinner participation around the holiday typically narrows depth, potentially exaggerating price moves across equities and FX.
FX and cross-asset context
Risk-on equity tone and holiday-thinned volumes often coincide with softer haven demand and subdued FX volatility, though moves can be choppy due to reduced liquidity. For traders, watch cash and futures market depth, bid-ask spreads, and any outsized flows around the open and close. Equity strength concentrated in semiconductors tends to support broader risk sentiment, with spillovers to high-beta assets if gains persist, BPayNews notes.
Stock movers to watch
- Nvidia: +1.67%, reclaiming $180 as chip momentum resumes.
- Broadcom: +2.52%, continuing its upward streak.
- AMD/Intel: +3.04%/+3.07% after prior-day declines.
- Alphabet: -1.24% in a breather; Microsoft +1.78%, Amazon +0.61%.
FAQ
Why are U.S. stocks rising today?
A rebound in semiconductor shares and steady demand for megacap tech helped lift indexes into the holiday. Thin pre-Thanksgiving liquidity can also amplify prevailing momentum.
Which sectors are leading the market?
Semiconductors are leading, with Nvidia, Broadcom, AMD and Intel all higher. Broader tech remains constructive, though performance is mixed across individual megacaps.
What are the Thanksgiving trading hours for U.S. markets?
Equities trade normal hours on Wednesday, are closed Thursday, and close early at 1 p.m. ET on Friday. The U.S. bond market is scheduled to close early at 2 p.m. ET Friday.
How does the holiday affect FX and liquidity?
Participation typically thins, which can compress FX volatility but also cause erratic moves due to reduced depth. Spreads may widen around the open and close.
What should traders watch next?
Liquidity conditions into Friday’s shortened session, semiconductor breadth, and any shifts in rates that could challenge tech leadership. Monitor closing flows and positioning dynamics as month-end approaches.
Last updated on November 26th, 2025 at 04:16 pm
