As we get ready to gather around the Thanksgiving table, the markets have been cooking up plenty of their own news, a mix of strong earnings, shifting interest rates, and some surprisingly friendly trade talks. Let’s dig in.
Corporate America is still bringing the main course.
Earnings season is wrapping up, and most companies are showing healthy profits. Big Tech continues to be the star of the table, investing heavily in artificial intelligence like it is the secret ingredient to every future recipe. While not every dish has been a crowd-pleaser (looking at you, Meta), the overall spread has been impressive.
The Federal Reserve is trying to find the right recipe.
The Fed lowered rates slightly in October but made it clear that more cuts are not guaranteed. Officials seem divided on how much seasoning the economy still needs. The job market remains steady, not too hot and not too cold, and businesses appear to be cautiously optimistic. In short, the Fed is trying to keep the balance just right without letting inflation boil over.
The United States and China called a truce, so pass the peace gravy.
In a welcome change of tone, both sides agreed to a temporary pause on trade tensions. Tariffs are easing, soybeans are back on the menu, and global markets seem to be breathing a little easier. It is not a full feast of diplomacy, but it is a much better conversation than we have had in a while.
Markets are feeling thankful.
With solid earnings, easing trade pressures, and seasonal strength on their side, markets have kept climbing. Historically, late fall through spring tends to be a favorable stretch for stocks, kind of like that perfect post-Thanksgiving nap that resets everything. No guarantees, of course, but the overall mood remains hopeful.
Looking ahead
We are closing out the year with plenty to be grateful for, including steady growth, improving trade relations, and a generally healthy economy. At the same time, the Fed’s next steps could shape how things unfold heading into 2026, so staying flexible and focused remains key.
From our Sofos family to yours, thank you for your continued trust and partnership. I hope the start of this holiday season brings you time to slow down, enjoy the moments that matter most, and maybe sneak in a taste of pumpkin pie a little early.