S&P 500, Nasdaq close higher, extending gains for third day as investors await next week's rate decision

The S&P 500 and Nasdaq Composite traded a spot higher connected Thursday.

The wide marketplace scale closed up 0.11% to 6,857.12, portion the tech-heavy Nasdaq roseate 0.22% to 23,505.14. The Dow Jones Industrial Average, however, fell 31.96 points, oregon 0.07%, to 47,850.94.

— Sean Conlon

Meta's Thursday rally connected the backmost of a layoff study should beryllium the commencement of much upside to come, according to Stephanie Link, main concern strategist astatine Hightower Advisors.

"I've been adding and I volition proceed to buy," Link said. "It should beryllium up mode much than this successful my opinion."

Meta shares rallied astir 4% successful the session. CNBC Pro subscribers tin click here for the afloat story.

Meta Platforms, 1-day

The Russell 2000 small-cap scale outpaced the marketplace for different time connected Thursday.

The scale was past up 1.1%, arsenic of 2:15 p.m. ET, beating retired the 3 starring U.S. indexes, which were each trading astir the flatline.

Russell 2000, 1-day

This comes a time aft small-cap stocks outperformed the large averages, with the Russell 2000 rising astir 2% successful the erstwhile session.

With those gains, the scale is outperforming this week arsenic well, seeing an summation of 1.5% week to date.

— Sean Conlon

2025 is looking to beryllium a breakout twelvemonth for the AI builders — specified arsenic the companies that are wide producing information retention products, making electrical instrumentality for information centers and supplying wafer fabrication instrumentality for devices.

Data retention companies Western Digital and Seagate Technology are the S&P 500 tech sector's apical performers this year, with blockbuster gains of much than 255% and 206%, respectively, arsenic AI drives request for hard drives.

Micron Technology, Palantir, Lam Research, AppLovin and Intel travel suit arsenic the sector's apical performers, successful that order. Companies specified arsenic Jabil and optic connectors shaper Amphenol are besides beardown tech performers this year, with their gains topping that of high-flying names specified arsenic Nvidia and Microsoft.

— Pia Singh

Check retired the companies making the biggest moves midday:

• Meta Platforms — The Facebook and Instagram genitor precocious 4%. Managers led by CEO Mark Zuckerberg are weighing cuts arsenic heavy arsenic 30% successful Meta's "metaverse group" successful 2026, Bloomberg reported.
• Kroger – The Cincinnati-based supermarket concatenation dropped 6.5% after third-quarter revenue lagged Street estimates, identical income excluding substance roseate 2.6% successful the latest 4th against analysts' statement estimation for 2.9% and the gross borderline came successful astatine 22.8% versus an estimated 23.0%, according to FactSet data.
• Science Applications International — The exertion integration and systems engineering supplier to the national authorities soared 17%. Third-quarter net per share beat the Street statement by 26% and SAIC lifted afloat twelvemonth 2026 and 2027 net guidance, FactSet information showed. Management said the improved outlook was supported by rising book-to-bill trends.

Read here for the afloat list.

— Scott Schnipper

A astonishment driblet successful jobless claims past week was mostly dismissed by markets arsenic a vacation aberration, with small accusation connected the Federal Reserve's involvement complaint determination past week.

Initial filings fell to a seasonally adjusted 191,000, the lowest full successful much than 3 years and coming astatine a clip erstwhile worries are expanding astir the labour market. Economists, however, honed successful connected apt seasonal distortions generated from past week's Thanksgiving vacation successful the U.S.

Citigroup opined that "we would not work excessively overmuch into the diminution successful archetypal jobless claims this week and would expect a bounce backmost successful coming weeks." Similarly, Goldman Sachs said, "We fishy that overmuch of the diminution successful archetypal claims reflects seasonal accommodation difficulties astir the Thanksgiving holiday, arsenic the seasonal origin expected a overmuch smaller diminution successful non-seasonally-adjusted archetypal jobless claims than took spot successful erstwhile years with akin calendar configurations."

While a firming labour marketplace different mightiness deter the Fed from cutting rates, traders held their champion dependable that a simplification is coming. Fed funds futures arsenic of noon ET Thursday pointed to an 87.2% probability of a chopped erstwhile the determination is announced Wednesday, down lone somewhat from the aforesaid constituent a time ago, according to CME Group data.

— Jeff Cox

Apple could beryllium owed to look immoderate unit successful the coming weeks, according to Jonathan Krinsky, BTIG's main marketplace technician.

With a year-to-date summation of 12%, the banal is "having a reasonably pedestrian year," helium said, adding that specified a determination is "largely a relation of its starting point."

"While the semipermanent inclination for AAPL remains unquestionably bullish, determination are plentifulness of opportunities to commercialized it erstwhile it becomes excessively extended," helium continued. "With AAPL present 25% supra its 200 DMA, we deliberation it erstwhile again is poised for a drop, particularly arsenic we look up to January."

— Sean Conlon

After a monolithic year-to-date slump, immoderate analysts spot a immense buying accidental up for Salesforce.

Wall Street firms seemed optimistic aft the cloud-based bundle elephantine posted fiscal third-quarter adjusted net that came successful astatine $3.25 per share, exceeding the $2.86 statement estimation from LSEG. The institution besides guided for current-quarter gross of betwixt $11.13 cardinal to $11.23 billion. This topped Wall Street's estimation of $10.9 billion.

Investors this greeting were little enthused than analysts with shares up lone 2% successful greeting trading. The banal has declined 27% this year.

Despite these mixed earnings, immoderate large Wall Street analysts judge the banal could surge arsenic overmuch arsenic 70% from here, pointing to AI-driven acceleration arsenic a catalyst.

CNBC Pro subscribers tin work much here.

— Lisa Kailai Han

January earthy state futures touched a precocious of $5.046 per cardinal BTUs Thursday, the highest since precocious December, 2022, arsenic acold upwind struck the Midwest and East Coast.

So acold successful the 4th quarter, natgas prices person jumped astir 50%, connected gait for the largest quarterly summation since the archetypal 4th of 2022. For the twelvemonth frankincense far, natgas has climbed 36% aft soaring 45% successful 2024.

Stocks of natgas producers person benefited, with the First Trust Natural Gas ETF up astir 7% this quarter, connected way for the champion 4th since aboriginal 2024, led by beardown gains successful Baytex Energy, Comstock Resources, CNX Resources, BKV, Gulfport Energy, each of which are higher by 20% oregon more.

Natural state shaper ETF successful Q4

The 3 large averages began Thursday's trading league with gains.

The S&P 500 roseate 0.2% conscionable aft 9:30 a.m. ET, arsenic did the Nasdaq Composite. The Dow Jones Industrial Average besides precocious 92 points, oregon 0.2%.

— Sean Conlon

Shares of Salesforce and Snowflake moved successful other directions successful premarket trading connected Thursday morning.

Salesforce roseate 1.6% connected the heels of its upbeat gross outlook for the 4th quarter. In contrast, Snowflake dropped astir 8% aft the institution issued disappointing merchandise gross maturation guidance.

— Sean Conlon

Initial unemployment filings unexpectedly tumbled past week to the lowest level successful much than 3 years, the Labor Department reported Thursday.

Jobless claims for the week ending Nov. 29 totaled a seasonally adjusted 191,000, down 27,000 from the anterior play and beneath the Dow Jones statement estimation for 220,000. The full was the lowest since Sept. 24, 2022, and counters different caller signs showing accelerating layoffs and a debased hiring rate.

A steep diminution of astir 20,000 successful California helped thrust the full lower, portion Texas besides saw a driblet of 8,349, according to unadjusted figures. The section noted that seasonal factors had indicated a driblet of 21,172 from the anterior week.

Continuing claims, which tally a week behind, edged little to 1.94 million.

— Jeff Cox

Here are immoderate of the stocks making the biggest moves earlier the bell:

• Dollar General — The discount concatenation lifted its full-year guidance, sending shares up 6.5%. Dollar General present anticipates net betwixt $5.60 and $5.80 per share, up from its anterior guidance of $5.32 to $5.72 per share.
• Five Below — Shares jumped 4.5% aft the discount retailer's third-quarter results blew past expectations. Adjusted net came successful astatine 68 cents per share, astir 3 times higher than the 24 cents expected from analysts polled by LSEG. Revenue was $1.04 billion, versus the $980 cardinal statement estimate.
• Snowflake — The cloud-based information retention institution fell 8.2% aft its outlook for merchandise gross maturation for the January 4th disappointed investors.

To spot much premarket movers, read the afloat communicative here.

— Michelle Fox

Announced occupation cuts from U.S. employers moved further up of 1 cardinal for the twelvemonth successful November arsenic firm restructuring, artificial quality and tariffs person helped pare occupation rolls, consulting steadfast Challenger, Gray & Christmas reported Thursday.

The steadfast said layoff plans totaled 71,321 successful November, a measurement down from the monolithic cuts announced successful October but inactive capable to bring the 2025 full up to 1.17 million. That full is 54% higher than the aforesaid 11-month play a twelvemonth agone and the highest level since 2020, erstwhile the Covid pandemic rocked the planetary economy. Read more.

— Jeff Cox

In a Thursday note, Citi expert John Godyn initiated the U.S. hose manufacture astatine a bargain rating.

Godyn argued that 2025's underperformance and capableness cuts person acceptable up a tactically bullish cyclical setup heading into 2026, for reasons specified arsenic further manufacture consolidation and a apt rebound successful some manufacture request and high-margin firm travel.

"In short, we judge the setup is affirmative for an elongated mid-cycle opening successful 2026. If we are right, each airlines are poised to bounce," helium wrote.

However, Godyn besides argued that the "supermajor" airlines volition astir apt beryllium the biggest beneficiaries, arsenic they person a much favorable risk-reward ratio comparative to the rest. These names see airlines specified arsenic American Airlines Group, Delta Air Lines and United Airlines.

On the different hand, bequest low-cost carriers should shingle retired arsenic the cycle's comparative underperformers, the expert said.

"We are positively biased toward niche carriers and volition revisit our ratings connected a case-by-case basis," helium added.

— Lisa Kailai Han

Shares of bundle sanction UiPath jumped 8% successful premarket trading connected Thursday aft the company's third-quarter results topped Wall Street's expectations.

The institution posted adjusted net of 16 cents per stock connected gross of $411 million. That bushed retired the 15 cents per stock and $393 cardinal successful gross that analysts surveyed by LSEG had penciled in.

PATH, 1-day

Nvidia CEO Jensen Huang said helium met with President Donald Trump on Wednesday and that some of the men talked astir spot export restrictions, arsenic lawmakers see a connection to bounds exports of precocious artificial quality chips to nations similar China.

"I've said it repeatedly that we enactment export controls, and that we should guarantee that American companies person the champion and the astir and first," Huang told reporters connected Capitol Hill.

Lawmakers were considering including the Guaranteeing Access and Innovation for National Artificial Intelligence Act successful a large defence package, known arsenic the National Defense Authorization Act. The GAIN AI Act would necessitate chipmakers similar Nvidia and Advanced Micro Devices to springiness U.S. companies archetypal prime connected their AI chips earlier selling them successful countries similar China. The connection isn't expected to beryllium portion of the NDAA, Bloomberg reported, citing a idiosyncratic acquainted with the matter.

"The GAIN AI Act is adjacent much detrimental to the United States than the AI Diffusion Act," Huang said. More here.

— Annie Palmer

Check retired the companies making headlines successful after-hours trading.

• Salesforce — Shares of the bundle institution gained astir 2% aft Salesforce posted mixed third-quarter results, but guided its fourth-quarter gross higher. Salesforce earned $3.25 per share, excluding items, successful the latest quarter, topping the LSEG estimation of $2.86 per share. Revenue of $10.26 cardinal fell conscionable abbreviated of the $10.27 cardinal statement forecast. For the afloat year, Salesforce raised its gross outlook to betwixt $41.45 cardinal and $41.55 billion.
• UiPath — The concern automation bundle supplier jumped 9% postmarket aft third-quarter adjusted net of 16 cents per stock and gross of $411 cardinal topped analysts' statement estimation of 15 cents and $393 million, respectively, according to LSEG data.
• Snowflake — The cloud-based information retention banal slid much than 6% aft Snowflake gave a somewhat disappointing outlook for its merchandise gross maturation for the January quarter. Still, the institution reported a bushed connected apical and bottommost lines for its 3rd quarter. Expectations were precocious heading into the results, with the banal up 72% twelvemonth to date.

For the afloat list, work here.

— Pia Singh