On the evening of November 24, Beijing time, U.S. stocks continued to climb in early Monday trading, with the tech sector leading gains as the Nasdaq rose 1.8%. The market is attempting to rebound during the Thanksgiving holiday week following recent declines that dented this year's AI-driven bull run. Given expectations of lighter trading volume and a lack of major catalysts ahead of the Federal Reserve's December policy meeting, market volatility may intensify.

The Dow Jones Industrial Average gained 79.90 points, or 0.17%, to 46,325.31; the Nasdaq Composite surged 395.43 points, or 1.78%, to 22,668.52; and the S&P 500 added 62.70 points, or 0.95%, to 6,665.69. U.S. markets will be closed on Thursday for Thanksgiving and will close early at 1:00 p.m. ET on Friday. Major indices are extending the strong rebound that began on Friday after New York Fed President John Williams suggested there remains room for further rate cuts, keeping the possibility of a December reduction alive.

Williams noted that as the labor market cools, the Fed still has scope to adjust policy closer to neutral levels. He highlighted that downside risks to employment have increased while upside risks to inflation have eased. Williams described current monetary policy as moderately restrictive but less so than before recent actions. His remarks fueled traders' bets on a December rate cut.

However, major indices remain significantly lower for November, pressured by concerns over overvaluation in AI-related stocks, which drove much of 2025's gains and are now undergoing reassessment. The S&P 500 fell 2% last week, bringing its November decline to 3.5%. The Nasdaq Composite dropped 2.7% last week and is down 6.1% for the month. The Dow Jones Industrial Average lost 1.9% last week and has declined 2.8% so far in November.

As U.S. stocks enter the final stretch of November, trading conditions may remain challenging. With lighter volume expected in the coming days and no major catalysts before the Fed's December meeting, volatility could rise. The Chief Investment Officer of Siebert Financial remarked, "Investors dislike noise. They crave certainty, which the market simply cannot provide right now."

Key macroeconomic events this week include Tuesday's release of U.S. October retail sales data and the Producer Price Index, both of which will shape expectations for the Fed's year-end policy meeting.