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Economic Data Deluge on Thanksgiving Eve
Tom White
November 26, 2025
U.S. stock futures are modestly higher ahead of the Wall Street open as equities look to extend gains from the last two sessions.
Alphabet (GOOGL) shares are higher by more than 1.0% in the premarket and adding to nearly 8% gains this week. Traders continue to monitor the Fed’s next interest rate move as expectations for a cut continue to ramp higher.
Traders are pricing in over an 80% chance of a quarter percentage point cut from the Fed in December, according to the CME FedWatch tool. Investors will also be watching economic data this morning and includes delayed reports on Durable Goods and Personal Income and Outlays.
Markets are closed for the Thanksgiving Holiday on Thursday and close at 1PM ET on Friday.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are relatively down 0.3% near $58 a barrel after sliding to a one-month low in the previous session as investors assessed prospects of oversupply and talks over a Russia-Ukraine peace deal.
Gold (/GC) – Gold prices are up 0.3% near $4200 and are near two-week highs, after benign U.S. economic data reinforced expectations of a Federal Reserve interest rate cut next month, supporting non-yielding bullion.
Bitcoin (/BTC) – The Crypto Future is down 1% near 86,500 in premarket trading.
VIX – The CBOE Volatility Index fell 9.5% on Tuesday and settled at 18.56 as stocks rallied.
U.S. Dollar (/DX) – The dollar is up 0.2% to 99.8.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
ADSK | Autodesk | +7.90% |
DELL | Dell Technologies | +5.00% |
NTAP | NetApp | +4.20% |
WDAY | Workday | -6.07% |
DE | Deere | -4.85% |
HPQ | HP Inc. | -3.29% |
Economic Data
Time | Event |
|---|---|
7:00 AM ET | MBA Mortgage Applications |
8:30 AM ET | Durable Goods (Delayed) Jobless Claims GDP Intl. Trade in Goods Retail/Wholesale Inventories |
9:45 AM ET | Chicago PMI |
10:00 AM ET | New Home Sales Personal Income/Outlays (Delayed) |
10:30 AM ET | Oil Inventories |
11:30 AM ET | 7-Year Note Auction |
12:00 PM ET | Natural Gas Inventories |
2:00 PM ET | Beige Book |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
DE, LI | None | None | None |
Upgrades/Downgrades
Deutsche Bank upgrades Autodesk (ADSK) to Buy from Hold
Northland upgrades NetApp (NTAP) to Outperform from Market Perform
Capital One upgrades Zscaler (ZS) to Overweight from Equal Weight
Bernstein downgrades Ambev (ABEV) to Market Perform from Outperform
UBS downgrades Biohaven (BHVN) to Neutral from Buy
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