DJI: Dow Jones Futures Jump as Emboldened Traders Step into Shortened Week

It’s the week of Thanksgiving and you know what that means. “Come down, sweety, and let us know how your high-beta stocks are doing. Here’s our little investor.”

🤑 ”I’m Thankful for My Stocks and Coins”

• US stock futures pushed higher early Monday as traders tried to stage an early rebound heading into the Thanksgiving holiday week
• Yep, it’s that time of the year where your mom asks about your “little investment hobby” while your uncle tries to explain why cryptocurrencies ain’t got no future. (“You see, that thing’s crashing right now.”) Over mashed potatoes.

🔎 Where Are Stocks at Now?

• Futures tied to the Dow Jones Industrial Average DJI rose 120 points, or 0.3%, while S&P 500 futures added 0.5%. Nasdaq futures led the pack with a 0.8% gain. US equity markets will be closed Thursday for Thanksgiving and will shut early at 1 p.m. ET on Friday.
• This week’s bounce attempt comes after a bruising November stretch driven by the dramatic cooling of the AI trade.
• Investors have been forced to rethink the sky-high valuations of the very megacaps that powered the year’s biggest gains. And the cool-off hasn’t been graceful.

🎮 Look Across the Board

• Last week, the S&P 500 slipped 2%, taking its monthly decline to 3.5%. The Nasdaq Composite lost 2.7% and is now lower by 6.1% for November. The Dow dipped 1.9% and is off 2.8% month-to-date.
• Friday did offer the first hint of stabilization. Remarks from the New York Fed president left the door open to a possible December rate cut, which helped spark a modest rebound into the weekend.
• Still, the final days of November may not be smooth sailing. With trading volumes set to dry up and few meaningful catalysts before the Fed’s December policy meeting, volatility could flare up unpredictably.
• Meanwhile, crypto traders didn’t wait for the opening bell. Bitcoin BTCUSD reclaimed $87,000 early Monday. It’s a small but welcome relief bounce after last week’s washout.