On the upgrade tape, MP Materials is higher by more than 3% after BMO called current pricing an attractive entry for rare earth exposure.
Merck is up around 2% after Wells Fargo flagged a “catalyst rich” 12–18 months as it looks to bridge the Keytruda patent cliff.
Carvana is adding roughly 3.3% after Wedbush argued the recent 13% pullback went too far and sees limited downside from here.
What Are Traders Watching Into Thanksgiving?
The big problem heading into the Fed’s December meeting is data. The Bureau of Labor Statistics scrapped the October CPI release and pushed the November print to Dec. 18, which means the Fed won’t have a fresh inflation read on the table on Dec. 10. That leaves October retail sales and producer prices on Tuesday doing more of the heavy lifting for sentiment.
With volumes set to thin out around Thanksgiving and few obvious catalysts before the Fed, volatility can pick up quickly on any surprise.
Bottom line: this bounce is being powered by easier Fed expectations and stock-specific AI and policy stories, but traders are likely to stay selective and quick to fade anything that feels stretched.
More Information in our Economic Calendar.