Markets Brace for Thanksgiving Lull 26/11/2025

HOT stories for today

Market wrap:

• U.S. equities edged higher Tuesday, with the S&P 500 closing within roughly 2% of its record after renewed enthusiasm over artificial-intelligence spending among the mega-cap tech cohort helped fuel a late-session rebound. The Dow advanced even as Nvidia dragged on the benchmarks. The chipmaker slumped more than 2.5% while rivals Meta and Alphabet surged after reports that the social-media group may adopt Google’s TPU chips starting in 2027. The development intensified competition in the AI build-out and pushed Alphabet toward the $4 trillion market-cap threshold, sending the shares to fresh all-time highs. Economic data pointed to softer consumer momentum. Retail sales in September rose at roughly half the pace economists had projected, after the delayed release caused by the federal government shutdown earlier this month.
• Travel and leisure stocks outperformed as airlines rallied on projections from the National Oceanic and Atmospheric Administration calling for a record 82 million Thanksgiving travelers this year. In global markets, Asia-Pacific benchmarks followed Wall Street higher amid growing confidence that the Federal Reserve will begin cutting rates in the coming months. Separately, Donald Trump said only “a few disputes” remain in Ukraine-Russia peace discussions, as Kyiv is reported to have endorsed a preliminary framework. Tomorrow, markets are closed due to the Thanksgiving Holiday.

Record AI Orders Prompt Dell to Hike Revenue View

• Dell Technologies raised its full-year revenue outlook after securing $12.3 billion in AI orders last quarter, highlighting accelerating demand for its high-performance servers. The company now expects fiscal-year revenue of $111.2 billion to $112.2 billion, up from $105 billion to $109 billion previously. Quarterly revenue of $27 billion matched Dell’s guidance but was slightly below consensus, while the current-quarter forecast of $31 billion to $32 billion topped expectations. Shares rose about 3.2% in late trading.
• Infrastructure Solutions Group revenue reached $14.1 billion, with operating income up 16% to $1.7 billion as AI shipments broadened beyond hyperscalers. Dell also announced a deal with data-center operator Iren to deploy Canada’s first Nvidia GB300 NVL72 compute cluster. In the PC-focused Client Solutions Group, commercial revenue rose 5% to $10.6 billion, and consumer revenue fell 7% to $1.9 billion, generating $748 million in operating income.

Stocks on the move:

• HP Inc. (HPQ): Shares fell more than 5% after disappointing guidance and plans to cut 10% of its workforce. Q4 results beat, but the company said it will eliminate 6,000 jobs as it ramps AI adoption, targeting $1 billion in annualized savings over three years.
• Urban Outfitters (URBN): Jumped about 17% after Q3 earnings of $1.28 per share topped the $1.20 estimate, with revenue of $1.53 billion beating forecasts of $1.47 billion.
• PagerDuty (PD): Dropped 6% after mixed Q3 results. Revenue of $124.5 million came in slightly below the $125.4 million estimate, and the company trimmed its full-year outlook. It raised its fiscal 2026 EPS forecast to $1.11–$1.12 from $1.00–$1.04.
• Workday (WDAY): Fell 5% in late trading despite a Q3 beat. Adjusted EPS was $2.32 on revenue of $2.43 billion versus expectations of $2.18 on $2.42 billion.
• NetApp (NTAP): Rose 5% after Q2 results and Q3 guidance exceeded expectations. Adjusted EPS was $2.05, topping the $1.89 estimate, with revenue of $1.71 billion ahead of the $1.69 billion forecast.

Watchlist: GOOGL, DELL, ZS, WDAY, NTAP, HPQ, URBN, AMBA, DE

Key Economic Events Today:

EST time

08:30 am: USD Unemployment Claims
08:30 am: USD Core Durable Goods Orders
09:45 am: USD Chicago PMI
02:00 pm: USD Beige Book

 

Earnings

BMC (Before Market Open): Deere and Company (DE), Li Auto (LI),



The TEFS Analyst team wishes you a successful day!