Stock Market Summary – November 25, 2025

Stocks saw gains on Wednesday, helping extend the S&P 500’s winning streak to three days with a recent rebound of over 3%. However, there were uneven movements across sectors, with Nvidia, AMD, and Oracle under pressure, affecting the Nasdaq due to concerns around a potential business shift by Meta Platforms, one of Nvidia’s major customers. Despite this, health care and retail sectors saw strong performances with retailers like Dick’s Sporting Goods, Abercrombie, Best Buy, and Kohl’s posting solid results.

Delta Air Lines, Nike, and United Parcel Service were among the stocks that underperformed in 2025, despite Wall Street endorsements. Alibaba reported a 34% YoY increase in cloud computing revenue, and despite recent controversies, Elon Musk’s AI startup xAI is reportedly closing in on a $15 billion funding round at a valuation of $230 billion.

Nvidia fell by 3% following concerns that a major customer, Meta, might switch to using Google’s tensor processing units for its data centers. However, Nvidia claimed their chips are more flexible and powerful than Google’s ASIC chips.

Other notable moves include Amazon investing $50 billion in expanding capacity for its cloud unit’s U.S. government customers and Jim Cramer’s Charitable Trust purchasing 75 shares of Procter & Gamble.

New IRS guidance allows workers to claim deductions for tips and overtime pay, which was introduced as a part of President Trump’s tax law. Some tipped workers may be briefly eligible for this deduction until stricter regulations are finalized.

Finally, the housing market is seeing homes being taken off the market at the fastest rate in almost a decade due to weaker prices and uncertain economic conditions. September saw close to 85,000 U.S. homeowners removing their homes from the market, an increase of 28% from September 2024, marking the highest level for a month in eight years.