Michael Jordan #23, Shooting Guard and Small Forward for the Chicago Bulls wearing a warm up jacket looks on during player introductions before the NBA Midwest Division basketball game against the Denver Nuggets

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Stocks rise on low volume day, erasing November losses

All sectors posted gains today except for healthcare.

11/28/25 1:04PM

After yesterday’s holiday, Black Friday was off to an unusual start when an outage at CME, the world’s biggest exchange operator, hit a number of major markets, halting trading in FX markets as well as affecting futures contracts on stocks, Treasurys, and commodities. CME Group cited a “cooling issue at CyrusOne data centers.” Operations were fully resolved by 8:30 a.m. ET.

All major US indexes closed higher today amid thin trading volume. The S&P 500 and Russell 2000 ended essentially flat for the month of November, while the Nasdaq 100 dipped 1.6% for the month.

Stocks that moved higher:

Bitcoin mounted a morning comeback that ultimately reversed, though companies with large corporate bitcoin treasuries, like Riot and MARA Holdings, rose.
GameStop ticked up as hedge fund manager turned Substacker Michael Burry published nostalgic tweets from his time spent betting on the success of the video game and collectibles retailer ahead of its ascendance to meme stock status.

Stocks that moved lower:

Tilray tumbled after announcing the implementation of a reverse stock split plan.
Eli Lilly, today’s worst-performing stock in the S&P 500, dragged down healthcare, which was the only sector to close in the red today.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Stocks rise on low volume day, erasing November losses

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SpaceX gets a wave of bullish ratings from Wall Street analysts

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

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