By Joe Wallace
Investors have returned from the Thanksgiving weekend feeling worse for wear.
U.S. indexes declined in Monday morning trading. Cryptocurrencies skidded, hurting shares of Coinbase, Robinhood and Strategy.
The cautious mood extends a stretch of volatility for global markets, which have been choppy since fears of an AI bubble set in this fall. After rising on Black Friday, the S&P 500 still eked out a small gain in November, marking its seventh-consecutive winning month.
This week, investors will scour data including the ADP employment report for clues about the Federal Reserve's next move at a meeting that concludes Dec. 10. Traders are confident the central bank will lower borrowing costs for the third time in a row, to bolster the labor market, according to CME Group data.
President Trump said Sunday he has decided his nominee to replace Chair Jerome Powell, without giving a name. Bettors on prediction markets now heavily favor Kevin Hassett, director of the National Economic Council, as the most likely pick.
In global markets:
Stocks and bonds fell in Japan, where the central-bank governor signaled interest rates could rise later this month.
Oil prices rose about 1%, after the OPEC+ cartel decided to hold production steady instead of pumping more crude.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
December 01, 2025 12:03 ET (17:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
