US close: Meta, Alphabet lift markets to two-week high

25th Nov 2025 21:58

(Sharecast News) - US stocks finished at their highest levels in nearly two weeks on Tuesday, with strong gains from Meta Platforms and Alphabet providing a lift, along with well-received results from household-name retailers Best Buy, while speculation mounted about a potential interest-rate cut in December.

A barrage of economic data was being closely watched by investors following the data blackout that ensued during the government shutdown, with retail sales missing forecasts and core factory gate inflation slowing to a 14-month low.

Eyes are now beginning to turn to the Federal Reserve's next policy meeting on 9-10 December, with comments in recent days from officials raising hopes that the central bank may lower rates again next month.

"Fed speakers continue to line up behind a December cut, while today's US data suggests the bank may have room to ease policy when it meets next month," said Chris Beauchamp, chief market analyst at IG.

The Dow finished 1.4% higher at its highest close since 14 November, while the S&P 500 and Nasdaq gained 0.9% and 0.7%, respectively, to settle at their highest levels since 12 November.

On the macro front, US wholesale inflation picked up in September as higher energy and food costs offset more modest advances elsewhere, data from the Bureau of Labor Statistics showed on Tuesday. The producer price index rose 0.3% month‑on‑month after easing in August, in line with economists' forecasts, while the annual rate of wholesale inflation remained steady at 2.7%.

However, excluding food and energy, PPI increased by just 2.6% year‑on‑year, down from 2.9% in August and the smallest annual gain since July 2024.

US retail sales rose just 0.2% in September, the weakest monthly increase in four months and below forecasts for a 0.4% gain, according to the Census Bureau. Retail and food services sales climbed to $733.3bn, following a 0.6% rise in August. The slowdown reflected mixed performances across categories: sales grew strongly at miscellaneous store retailers and gasoline stations, but fell at sporting goods, hobby, musical instrument and book stores.

In other news, US home prices rose slightly in September, according to the latest S&P CoreLogic Case‑Shiller data. The 20‑city composite index increased 0.1% month‑on‑month on a seasonally adjusted basis, easing from a 0.2% gain in August. On a non‑adjusted basis, prices fell 0.5%, compared with a 0.6% decline the previous month. Year‑on‑year, the index was up 1.4%, in line with consensus expectations but slower than the 1.6% annual rise recorded in August.

Market movers

Meta Platforms and Alphabet were rising strongly on reports that the Facebook owner was considering using the Google parent's high-tech chips. According to The Information, Meta is in talks with Alphabet to use its tensor processing units (TPUs) in data centres in 2027.

Should a deal be struck, it would help establish TPUs as an alternative to Nvidia's chips, currently the gold standard in powering artificial intelligence. Nvidia shares finished down 3% on the news.

US-listed shares of Alibaba finished in the red despite the Chinese ecommerce giant posting stronger-than-expected quarterly revenues, as profit fell 53% year-on-year on heavy investment in cloud infrastructure, subsidies and marketing.

Electronics retailer Best Buy jumped 5% after raising its profit guidance for the full year following a strong third quarter, with sales and adjusted earnings coming in ahead of expectations.

Meanwhile, department store giant Kohl's surged 43% after upping its full-year guidance for the second time this year. The company also posted better-than-expected third-quarter earnings, as improving margins, cost controls and early progress under newly-appointed chief executive Michael Bender helped stabilise the embattled chain.

Dow Jones - Risers

Home Depot Inc. (HD) $350.29 4.31%

Salesforce.Com Inc. (CRM) $232.93 3.22%

Dow Chemical Co. (DOW) $23.05 2.97%

Walmart Inc. (WMT) $106.67 2.83%

Unitedhealth Group Inc. (UNH) $326.30 2.27%

Amgen Inc. (AMGN) $341.11 2.04%

American Express Co. (AXP) $361.21 1.89%

Boeing Co. (BA) $182.22 1.85%

McDonald's Corp. (MCD) $308.83 1.82%

Visa Inc. (V) $335.08 1.59%

Dow Jones - Fallers

Chevron Corp. (CVX) $149.14 -0.81%

S&P 500 - Risers

Kohls Corp. (KSS) $21.43 42.53%

Keysight Technologies Inc. (KEYS) $192.72 10.01%

Macy's Inc. (M) $21.59 9.14%

Bath & Body Works, Inc. (BBWI) $16.89 8.61%

Albemarle Corp. (ALB) $124.99 8.09%

Gap Inc. (GAP) $26.51 7.47%

Chipotle Mexican Grill Inc. (CMG) $33.15 7.09%

Leggett & Platt Inc. (LEG) $9.97 7.08%

Lennar Corp. Class A (LEN) $129.68 6.60%

Vornado Realty Trust (VNO) $36.99 6.32%

S&P 500 - Fallers

Advanced Micro Devices Inc. (AMD) $206.14 -4.14%

J. M. Smucker Co. (SJM) $100.63 -3.73%

Omnicom Group Inc. (OMC) $72.80 -2.65%

Nvidia Corp. (NVDA) $177.82 -2.59%

Interpublic Group of Companies Inc. (IPG) $25.02 -2.53%

Netflix Inc. (NFLX) $104.37 -2.43%

NRG Energy Inc. (NRG) $163.12 -1.82%

Equinix, Inc. (EQIX) $747.89 -1.67%

Oracle Corp. (ORCL) $193.72 -1.62%

Estee Lauder Co. Inc. (EL) $91.62 -1.55%

Nasdaq 100 - Risers

Qvc Group Inc Series A (QVCGA) $8.63 6.87%

Dollar Tree Inc (DLTR) $105.57 5.31%

Analog Devices Inc. (ADI) $252.02 5.27%

Applied Materials Inc. (AMAT) $242.41 4.98%

Meta Platforms Inc. (META) $636.36 3.80%

Expedia Group Inc. (EXPE) $258.11 3.60%

Regeneron Pharmaceuticals Inc. (REGN) $787.43 3.41%

DENTSPLY Sirona Inc. (XRAY) $11.10 3.40%

Wynn Resorts Ltd. (WYNN) $127.43 3.40%

Seagate Technology Plc (STX) $261.92 3.37%

Nasdaq 100 - Fallers

Nvidia Corp. (NVDA) $177.82 -2.59%

Netflix Inc. (NFLX) $104.37 -2.43%

Baidu Inc. (BIDU) $117.70 -1.27%

QUALCOMM Inc. (QCOM) $163.30 -1.07%

Intuit Inc. (INTU) $648.23 -0.77%

Synopsys Inc. (SNPS) $401.61 -0.75%

Incyte Corp. (INCY) $105.50 -0.70%

Cadence Design Systems Inc. (CDNS) $303.66 -0.27%

T-Mobile Us, Inc. (TMUS) $206.85 -0.24%

Mylan Inc. (MYL) $0.00 0.00%