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Informist, Wednesday, Nov. 26, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: US mkt ends up Tue as weak econ data strengthens rate cut hope

 

MUMBAI--0730 IST--Equity indices in the US ended higher Tuesday as some economic data strengthened the possibility of an interest rate cut by the US Federal Reserve at its next policy meeting in December. Data showed the US retail sales in September slowed down from a month ago, rise in wholesale inflation, and weak consumer confidence for the month of November. Benchmark equity indices ended higher for the third consecutive session, but gains were limited in the technology-heavy Nasdaq Composite after the heavyweight Nvidia slumped.

 

The US retail sales rose 0.2% on month in September after an unrevised 0.6% increase in August, failing to meet the expectation of a 0.4% rise economists had projected, Reuters reported. As per the Labour Department's data, wholesale prices moved 0.3% higher in September, in line with economists' expectations and followed a 0.1?cline in August. Also, a separate data release from the US Conference Board showed that consumer confidence declined to 88.7 in November from 95.5 in October, below economists' expectations of 93.2.

 

"Overall, there is just enough softness in today's two reports — with respect to the economy's resilience and inflation — to keep market expectations primed for another Fed rate cut" next month, as per Sal Guatieri, economist at BMO Capital Markets, Bloomberg reported. Fed fund futures traders were pricing in an 84% chance of a 25-basis-point rate cut, up from a 50% chance seen a week ago, according to CME Fedwatch Tool.

 

Rate cut expectations were also bolstered after Bloomberg reported that White House National Economic Council Director Kevin Hassett is being considered as the frontrunner to become the next Fed chairperson. Traders view Hassett as more likely to push the central bank towards a lower rate regime.

 

Shares of Nvidia fell almost 3?ter a report indicated that the artificial intelligence chipmaker will likely have more competition from Google. Shares of Google's parent Alphabet rose almost 2?ter media reports said that Meta Platforms was in discussions to use Google's AI chips in its data centres from 2027. Shares of Meta Platforms were up almost 4%.

 

Among other gainers, shares of department store chain Kohl's surged almost 43% and those of clothing retailer Abercrombie & Fitch jumped nearly 38%, after both companies hiked their annual earnings forecasts, Reuters reported.

 

Following are the closing levels of US indices Tuesday: 

Index	Level	Change in %
S&P 500	6765.88	0.91
NASDAQ Composite	23025.59	0.67
Dow Jones Industrial Average	47112.45	1.43

 

(Eshitva Prakash)

 

End

 

US$1 = INR 89.22

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Vandana Hingorani

 

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