Wall Street Nears Record Highs as Year-End Rally Hopes Grow

• Why Are Markets Rallying Ahead of the Fed Meeting?
• How Did Black Friday and Cyber Monday Perform?
• What’s Next for the Fed Leadership?
• Which Companies Are Making Headlines?
• What’s the Latest in AI and Geopolitics?
• Key Economic Data to Watch
• FAQ: Your Burning Questions Answered

Wall Street is buzzing with Optimism as major indices climb toward all-time highs, fueled by expectations of a Fed rate cut and a potential year-end rally. Tech valuations remain a hot topic, while Bitcoin surges past $90,000. Meanwhile, Black Friday and Cyber Monday online spending hit $44.2 billion, and geopolitical tensions simmer as US envoys meet Putin. Dive into the latest market moves, corporate earnings, and AI developments shaping the financial landscape.

Why Are Markets Rallying Ahead of the Fed Meeting?

Wall Street kicked off December on a positive note, with the S&P 500 gaining 0.44% to 6,842 points, the Dow Jones rising 0.42% to 47,487 points, and the Nasdaq jumping 0.87% to 23,478 points. Investors are betting on a year-end rally, supported by expectations of a Fed rate cut. According to CME FedWatch, there’s an 87.2% chance of a 25-basis-point reduction on December 10, which would bring the fed funds rate to 3.50–3.75%. "The market’s pricing in a dovish Fed, but the real question is whether tech stocks can sustain these valuations," notes the BTCC team. Meanwhile, bitcoin reclaimed $90,000, WTI crude dipped 0.1% to $59.3, and gold slid 0.9% to $4,194 per ounce.

How Did Black Friday and Cyber Monday Perform?

Americans spent a staggering $14.25 billion on Cyber Monday, pushing the total Thanksgiving weekend online sales to $44.2 billion—a 7.7% YoY increase (down from 8.2% in 2024). Black Friday alone hit a record $11.8 billion. "Retailers leaned heavily on discounts, and the extended Cyber Week deals pulled demand forward," said Vivek Pandya of Adobe Digital Insights. The BTCC team adds, "Competitive pricing blurred the lines between Black Friday and Cyber Monday, creating a five-day shopping marathon."

What’s Next for the Fed Leadership?

Trump confirmed he’s chosen a successor for Jerome Powell, hinting at a rate-cut advocate: "I know who I’ll pick—we’ll announce soon." Bloomberg reports Kevin Hassett, Trump’s top economic advisor, is the frontrunner. Hassett dodged CBS’s questions but teased, "The market reacted positively to rumors about me." Meanwhile, Fed Governor Michelle Bowman—a rate-cut proponent—spoke today about the Fed’s stablecoin regulation efforts. "The divisions within the Fed on rate policy are as stark as I’ve seen," a Bloomberg analysis noted.

Which Companies Are Making Headlines?

• MongoDB (+25%): Q3 earnings smashed estimates at $1.32 EPS ($628M revenue), with annual guidance raised to $4.76–4.80 EPS.
• Apple (+0.6%): Hired ex-Microsoft AI VP Amar Subramanya to lead its Foundation Models team, replacing John Giannandrea.
• Marvell Technology (+1.8%): Nears a $5B deal to acquire AMD-backed Celestial AI, per The Information.
• Warner Bros. Discovery (+0.9%): Netflix reportedly bid for its assets in a cash-heavy offer, with a deal possible at $30/share.
• Tesla (flat): China-made EV sales rose 9.9% YoY in November, with Model 3/Y shipments up 41% from October.

What’s the Latest in AI and Geopolitics?

OpenAI’s Sam Altman warned of the need to outpace rivals Google (Gemini) and Anthropic (Claude). Meanwhile, US envoys Steve Witkoff and Jared Kushner met Putin to discuss Ukraine peace talks—a 28-point US proposal last week drew skepticism from Kyiv. "This feels like a replay of 2014 Minsk accords," a diplomat told Reuters.

Key Economic Data to Watch

November’s PMI manufacturing index beat expectations at 52.2 (vs. 51.9 flash), while ISM manufacturing disappointed at 48.2 (below 50 contraction threshold). Upcoming releases include ADP employment, trade balance, and the Fed’s favored Core PCE index. "The ISM-PMI divergence suggests sectoral weaknesses," the BTCC team observes.

FAQ: Your Burning Questions Answered

Will the Fed cut rates in December?

Markets overwhelmingly expect a 25-basis-point cut on December 10, with CME FedWatch showing an 87.2% probability.

Why did MongoDB stock surge?

Strong Q3 results and raised annual guidance drove the 25% rally, with revenue now projected at $2.43–2.44B.

Is Tesla’s China growth sustainable?

November’s 9.9% YoY sales bump (41% MoM) suggests demand is recovering, but competition from BYD remains fierce.