US Equity Markets Close Higher Amid Broad Market Gains as Fed Rate Cut Expectations Remain Strong

04:09 PM EST, 11/26/2025 (MT Newswires) -- US equity indexes closed higher Wednesday amid broad market gains ahead of the Thanksgiving holiday, as expectations for a Federal Reserve interest rate cut in December remained strong.

* The Chicago purchasing managers index dropped to 36.3 in November from 43.8 in October, falling short of the 43.6 reading expected by economists surveyed by Bloomberg, according to the Institute for Supply Management.

* New orders for durable goods rose 0.5% in September, matching forecasts but slowing from a 3% gain in August, according to Census Bureau data. The report showed weaker demand in the civilian aircraft sector, which offset gains in other categories.

* US retail sales rose 0.2% in September, slowing from a revised 0.6% increase in August and falling short of economists' expectations for a 0.4% gain, according to data from the Census Bureau.

* January West Texas Intermediate crude oil fell $0.89 to settle at $57.95 per barrel, while January Brent crude, the global benchmark, was last seen down $0.88 to $62.49.

* Robinhood (HOOD) agreed to acquire a 90% stake in the MIAX Derivatives Exchange from Miami International, forming a partnership with Susquehanna International. Shares of Robinhood rose nearly 11% following the announcement.

* Workday (WDAY) shares fell about 7.9% after TD Cowen, RBC, and Bernstein, among others, lowered their price targets following the company's Q3 earnings report.

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