Stock Market Expectations: Signs of an Increase Ahead of Thanksgiving

US stock futures rose this evening as investors searched for a turnaround ahead of Thanksgiving. Dow Jones Industrial Average futures were up about 200 points or 0.4%, while S&P 500 futures increased by 0.6% and Nasdaq-100 futures rose by 0.9%.

This movement on Sunday is seen as an effort to continue Friday's recovery following John Williams, the New York Federal Reserve President, signaling positive indications regarding the possibility of an interest rate cut in December. However, major indexes experienced significant losses during the early part of November. S&P 500 dropped 2% last week, bringing its total loss for the month to 3.5%. Nasdaq Composite Index fell by 2.7%, resulting in an overall decline of 6.1% for the month. Dow Jones also decreased by 1.9% last week, leading to a total loss of 2.8% in November.

This week, the Supreme Court is expected to determine whether Trump's tariffs were legally imposed. The relevant Department of Commerce and U.S. Trade Representative are preparing a roadmap for international trade should the court rule against them.

Moreover, as the effects of the longest government shutdown in U.S. history continue, it appears that data reports are gradually beginning to circulate. However, it will take more time for a full return to a normal economic calendar. Investors can monitor the September producer price index data to be released by the Bureau of Labor Statistics and the retail sales data for the same month from the Census Bureau, both set to be released on Tuesday.

This week, earnings season continues with moderate reports. Alibaba Holdings, Dell Technologies, and Kohl's are among some retailers taking the spotlight during the holiday-shortened week alongside Best Buy.