On November 21, 2025, the S&P 500 edged up 0.19% to close at 6,870.40, marking its fourth consecutive day of gains. This uptick places the index only 0.7% away from its all-time high. The Nasdaq Composite also saw a positive shift, rising 0.31% to finish at 23,578.13, while the Dow Jones Industrial Average gained 104 points, or 0.22%, wrapping up the day at 47,954.99.
Market participants digested a range of economic data released on Friday, including figures from the Commerce Department regarding the core personal consumption expenditures (PCE) price index for September, which experienced delays due to the U.S. government shutdown. The report revealed an annual core PCE rate of 2.8%, slightly below the 2.9% anticipated by economists surveyed by Dow Jones. The month-to-month rise of 0.2% aligned with projections, as did both monthly and annual figures for headline PCE.
Additionally, the University of Michigan’s consumer sentiment survey exceeded expectations for December, providing insights into consumer attitudes toward inflation both in the short and long term. This PCE report, serving as the Federal Reserve’s primary inflation measure, is crucial as it precedes the central bank’s interest rate decision next Wednesday. With inflation remaining subdued, attention increasingly shifts to the job market, which has shown signs of weakening in recent reports. Investors are anticipating that these conditions may sway the Federal Reserve to lower its benchmark rate by a quarter percentage point during their upcoming meeting.
The CME FedWatch tool currently indicates an 87% probability of a rate cut next Wednesday, a significant increase from just a few weeks prior. The targeted federal funds rate remains in the 3.75%-4% range and is trading near the upper threshold due to ongoing pressure in short-term funding markets.
David Krakauer, vice president of portfolio management at Mercer Advisors, highlighted the implications of the recent data, stating, “I think it really just solidifies what the market’s already been pricing in, which is almost certainty of a cut for next week. If inflation continues to stay somewhat relatively tamed and [is] potentially decreasing, then what’s the outlook for more rate cuts into early next year?” Despite high expectations for a rate cut, Krakauer believes it might not necessarily act as a catalyst for significant stock market movements as the year draws to a close. However, he remains optimistic about the market’s potential for growth. “It may be a steady move, it may be a choppy move, but I certainly see the path for equities forward as being very positive,” he asserted.
As the week wraps up, the S&P 500 has gained 0.4%, while the Nasdaq and Dow have increased nearly 1% and 0.6%, respectively. Notably, small-cap stocks have outperformed the broader market, with the Russell 2000 index advancing by 1.1%.
In individual stock movements, Netflix experienced volatility in its shares after initially posting significant losses earlier in the day. This occurred following the announcement of a $72 billion deal to acquire film and streaming assets from Warner Bros. Discovery, expected to finalize within 12 to 18 months. Though Netflix shares fell by 2%, Warner Bros. Discovery’s stock rose by 5%. The streaming giant’s stock appeared to stabilize after a senior advisory official conveyed the Trump administration’s skepticism regarding the deal.
### Categories: Finance, Market News, Stock Exchange
### Tags: S&P 500, Federal Reserve, Stock Market, Interest Rates
Original Source: https://www.cnbc.com/2025/12/04/stock-market-today-live-updates.html
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Publish Date: 2025-12-06 02:35:00
