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@UndyingValue 2 months ago

Market recap: November ends choppy, upcoming Fed meeting, and 2026 targets

Market recap: November ends choppy, upcoming Fed meeting, and 2026 targets

November ended with some choppy trading that snapped the Nasdaq's seven-month winning streak, though the S&P 500 is still sitting just under 1% from a record high. Big tech had a mixed month. Meta dropped 13% and Nvidia fell 8% on AI concerns, while Oracle lost nearly 30%. Google went the other way, rallying about 20% after strong earnings and news about its Gemini 3 model and a deal with Meta. Looking ahead, the Fed meets December 9-10. Traders are currently pricing in an 87% chance of a rate cut. Trump mentioned he has decided on a nominee for the next Fed chair and expects them to lower rates. On the earnings front, Salesforce, CrowdStrike, and discount retailers like Dollar Tree and Dollar General are reporting soon. Despite the recent volatility, banks like JPMorgan and Deutsche Bank remain bullish long-term, predicting the S&P could hit 7,500 or 8,000 by 2026 driven by AI spending.
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