The Economic Timesยท2025-11-24 01:49Market Overview - Markets will be closed on Thursday for Thanksgiving and will close early on Friday at 1 pm ET, leading to a shortened trading week with lower volumes expected [6] - Major indexes remain under pressure, with the S&P 500 declining 2% last week and 3.5% for November, while the Nasdaq Composite fell 2.7% last week and is down 6.1% month-to-date [6] Federal Reserve Insights - Investor expectations for a December rate cut have surged, with futures markets now assigning nearly a 70% probability for a quarter-point cut at the December 10 Fed meeting, up from about 44% a week earlier [6] - Goldman Sachs Research supports the case for a December cut, anticipating the Fed's proactive approach to managing potential economic risks and forecasting two additional rate cuts in 2026 amid a cooling labor market [4][6] Economic Data and Market Sentiment - The Bureau of Labor Statistics canceled its October consumer price index (CPI) report and postponed November's CPI release until after the Fed's December meeting, adding to market uncertainty [5][6] - Investor sentiment remains cautious, particularly regarding high valuations in AI-linked stocks that have driven much of the year's market gains, with a noted desire for certainty in the current noisy market environment [5][7] Nvidia and AI Chip Sales - Reports indicate that the US government may allow Nvidia Corp. to resume sales of its advanced AI chips to China after a prior suspension due to export controls, although the review is still ongoing [6]