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Stock Market Live November 26: S&P (SPY) Flat Ahead of Thanksgiving

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At the moment, the S&P 500 stands at 6,797. Initially, they say the index could test 7,500 with double-digit earnings growth and the expectations of two or more interest rate cuts from the Federal Reserve. However, 8,000 may be in the cards if the Federal Reserve eases its policy even more.

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Heading into earnings next week, Broadcom (NASDAQ: AVGO) just saw a price target hike from Goldman Sachs. With a new target of $435, up from $380, the firm expects to see further sustained strength in artificial intelligence.

 It also expects to see updated 2026 AI revenue guidance above 100% year-over-year. “The analyst sees AI revenue for fiscal year 2026 to come in at $45.4 billion, marking an approximate year-over-year rise of 128%. This could reach $77.3 billion in 2027, rising 70% year over year,” added CNBC.

With investors with their families, we don’t expect to see a lot of volume on the markets today. In fact, that would help explain why the major indices are flat.

The S&P 500 is up about seven points, which is pushing the SPDR S&P 500 ETF (SPY) up fractionally. The Dow is up about 16, with the NASDAQ up about 51, last checked.

Thankfully, we’ve also seen strong rallies on the market, as dip buyers emerge.

“Stocks are trying to stage a comeback from the past few weeks of declines, suggesting that dip buyers are still out in full force,” said Clark Bellin, president and CIO of Bellwether Wealth, as quoted by CNBC. “The depth of the market’s pullback in November was only about 4% from the late October high, which is well below the typical 10% correction threshold.”

Nowadays, investors are monitoring key catalysts that could impact the Federal Reserve’s next move with interest rates. Right now, investors are pricing in an 85% chance of a December cut. That’s up nicely from the 50-50 odds we saw just last week.

Broadcom just saw a price target hike ahead of earnings

Heading into earnings next week, Broadcom (NASDAQ: AVGO) just saw a price target hike from Goldman Sachs. With a new target of $435 from $380, the firm expects to see further, sustained strength in artificial intelligence.

It also expects to see updated 2026 AI revenue guidance above 100% year over year. “The analyst sees AI revenue for fiscal year 2026 to come in at $45.4 billion, marking an approximate year-over-year rise of 128%. This could reach $77.3 billion in 2027, rising 70% year over year,” added CNBC.

Analysts at Raymond James also resumed their outperform rating on Broadcom.  With a price target of $420 a share, the firm “cited Broadcom’s position as a share gainer in the AI sector, providing operators with customized alternatives to general-purpose processors. Raymond James expects continued upward estimate revisions to support its positive rating on the stock,” as noted by Investing.com.

Keep an eye on Amazon this Holiday Season

With the 2025 holiday season here, investors may want to consider investing in Amazon (NASDAQ: AMZN). That’s because, according to Adobe Analytics, online spending is expected to jump about 5.3% this year to $253.4 billion.

  • U.S. online sales for the 2025 holiday season (November 1 to December 31) are forecast to be $253.4 billion, a 5.3% growth compared to the previous year.
  • Cyber Monday sales are expected to come in around $14.2 billion.
  • Black Friday sales are expected to be about $11.7 billion.
  • And Cyber Week is expected to account for $43.7 billion in sales.

In most years, Amazon is a no-brainer stock to buy and hold for the holiday rush. In fact, except for 2022, the e-commerce giant has historically pushed higher heading into the holidays, which we expect to happen again this year.

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