By Rian Howlett
Publication Date: 2025-11-25 17:41:00
US stocks ended sharply higher Tuesday, building on a broad rebound fueled by growing optimism that the Federal Reserve will deliver a rate cut next month, while tech heavyweights Alphabet (GOOG, GOOGL) and Apple (AAPL) posted record highs.
The Dow Jones Industrial Average (^DJI) jumped more than 1.4%, or over 600 points, while the S&P 500 (^GSPC) rose 0.9%. The tech-heavy Nasdaq Composite (^IXIC) shook off an early slide to trade around 0.7% higher, after Monday’s session delivered a strong start to the holiday-shortened trading week.
Stocks have built on the momentum that saw the Nasdaq surge in its best day since May, as tech megacaps snapped back from a bruising stretch while the major US indexes try to recover some of their losses this month. Alphabet continued its torrid streak, while Apple ticked higher to close at its latest high.
On the other hand, shares of Nvidia (NVDA) came under pressure after The Information reported that Meta (META) is in talks to spend billions on Google’s AI chips. The Alphabet-owned company’s challenge to Nvidia’s dominance helped push the chip heavyweight’s stock down more than 3% while Alphabet shares posted another record high. The tech giant inched closer to a $4 trillion market cap on Tuesday.
Meanwhile, investors continued to keep close watch on the Fed. Markets are now pricing in a more than 80% probability of a quarter-point interest rate cut in December. Bets on a cut jumped after Fed governor Chris Waller
