NYSE MAC Desk
Weekly Recap:
STRAIGHT FROM THE TRADING FLOOR
by Michael Reinking, CFA & Eric Criscuolo
Published on 11/28/25
DOW 47,716 (+289), S&P 500 6,849 (+36), Russell 2000 2,500 (+14), NYSE FANG+ 16,624 (+145), ICE Brent Crude $63.37/barrel (+$0.24), Gold $4,246/oz (+$44), Bitcoin ~90.7k (+546)
Happy Black Friday! This will be a very abridged note for a very abridged week of trading. Technical milestones were key themes for this week. The S&P 500 finished up 4% and reclaimed the 50d moving average as the 100d ma held as key support. The index moved higher every trading day this week and five straight going back to Friday. The equal-weight slightly lagged but was still up 3% while mid and small caps outperformed, adding 4-6%.
All sectors finished higher led by Comm Services (Meta and Alphabet +7-9%) and Discretionary (strength across the board). Staples and Energy lagged but still ended the week with gains.
Crypto finally found its footing as Bitcoin rose 8% and got back to ~$90K. Precious metals were very strong. Gold actually lagged but silver, platinum and palladium ripped 8-15%. Copper rose 5%. Crude ended the week with modest gains.
Treasury yields were down ~5bp at the long-end and the US Dollar index pulled back after testing 100.
The most important event occurred a bit outside of regular market action as the NYSE Kids Day 2025 took place at the NYSE on Friday. The MAC Desk had a front row ticket to all the action at the Connect Four Tournament, with stellar play throughout the day. The Championship Belt was won by Everett with an incredible run through all his matches.
What's on Tap Next Week
Markets get back to a regular schedule next week. The Fed will be in their blackout period ahead of the rate decision the week after (12/10). The ISM Manufacturing and Services surveys will be released. Labor data will include the ADP report, Challenger job cuts and weekly claims. September PCE/Income/Spending will be released. Earnings reports will include a mix of retail and tech, including American Eagle, CrowdStrike, Marvel, Dollar Tree, Macy's, Salesforce, Snowflake, HPE and Dollar General.
Calendar
- Monday -
- Earnings Pre-Market: None
- Economic Data:
- US: Final Manufacturing PMI, ISM Manufacturing, Construction Spending
- Global: Manufacturing PMI: Final (India/Australia/Japan/France/Germany/UK/Europe); Spain / Italy / Canada / Mexico, UK Consumer Credit; Mortgage apps
- Central Banks: None
- Auctions: US 3/6m
- Earnings After-Market: CANG, CRDO, MDB, VSTS
- Tuesday -
- Earnings Pre-Market: SIG, UNFI
- Economic data:
- US: RCM Economic Optimism, LMI Logistics Managers Index, Vehicle Sales
- Global: S. Korea CPI, Japan Consumer Confidence, Europe CPI, Unemployment,
- Central Banks: None
- Auctions: Japan 10y, S. Korea 30y, Germany 2y
- Energy: API Oil Inventory (AMC)
- Earnings After-Market: AEO, ASAN, BOX, CRWD, GTLB, MRVL, OKTA, PSTG
- Wednesday -
- Earnings Pre-Market: CXM, DLTR, M
- Economic data:
- U.S: ADP employment, ISM Services, Final Services PMI, Mortgage Applications, Import/Export Prices
- Global: Services PMI: Final (India/Australia/Japan/France/Germany/UK/Europe); Spain / Italy / Canada / Mexico, China RatingDog Services PMI, S. Korea Q3 GDP final, Australia Q3 GDP, Europe PPI
- Central Banks: None
- Auctions: US 17w, UK 4y, Canada 10y
- Energy: EIA Oil Inventory
- Earnings After-Market: AI, CRM, FIVE, GWRE, HQY, PATH, PVH, SNOW, TLYS
- Thursday -
- Earnings Pre-Market: BBW, BF.B, DCI, DG, GCO, HOV, HRL, KR, WLY
- Economic data:
- US: Challenger Job Cuts, Initial Claims, Trade Balance
- Global: Australia Trade Balance, Europe Retail Sales, Canada Trade Balance
- Energy: EIA Nat Gas inventories
- Auctions: US 4/8w, Japan 30y
- Central Banks:
- Fed Balance Sheet (AMC)
- Earnings After-Market: CHPT, DOCU, DOMO, HPE, IDT, IOT, RBKR, S, ULTA
- Friday -
- Earnings Pre-Market: VSCO
- Economic data
- US: PCE, Personal Income/Spending, Univ. Michigan survey, Consumer Credit, Factory Orders, Used Car Prices
- Global: Japan Tankan Index, Household Spending, Taiwan CPI, Germany Factory Orders, France Trade Balance, Industrial Production, Italy Retail Sales, Germany New Car registrations, Canada Unemployment
- Central Banks
- Rate Decision: India
- CFTC COT
- Energy: Rig Count
- Earnings After-Market: None
Connect with NYSE
By submitting this form you hereby expressly grant permission to use the information included thereunder to contact you for the purposes of sending periodic updates about ICE and/or its affiliates. Certain indices mentioned above are administered by ICE Data Indices, LLC.
Your contact information will not be used for any purpose other than that for which your consent has been given. To learn more about our privacy policy, please click here.
© 2024 Intercontinental Exchange, Inc. All rights reserved. Intercontinental Exchange and ICE are trademarks of Intercontinental Exchange, Inc. or its affiliates. For more information regarding registered trademarks, limitations, restrictions, and other important information, please visit intercontinentalexchange.com/terms-of-use.