Stock Market Live November 25: S&P 500 (SPY) Little Changed in Short Holiday Week

After a strong tech rally, the major indices are flat to down at the moment.

The S&P 500 is down about five points, with the SPDR S&P 500 ETF (SPY) up fractionally. The Dow is down about 16 points, as the NASDAQ slips about 38.

Tech is weighing on markets, with Nvidia (NASDAQ: NVDA) down about $7 a share on news that Meta (NASDAQ: META) is considering using Google (NASDAQ: GOOG) AI chips.

In fact, according to The Information, as reported by CNBC, “Meta is considering using Google’s tensor processing units (TPUs) in its data centers in 2027. Meta may also rent TPUs from Google’s cloud unit next year, the publication reported.”

Retail giant earnings aren’t too shabby 

This morning, Kohl’s (NYSE: KSS) EPS of 10 cents beat estimates by 27 cents. Revenue of $3.41 billion, down 2.8% year over year, beat by $40 million.

Abercrombie & Fitch (NYSE: ANF) EPS of $2.36 beat by 21 cents. Revenue of $1.29 billion, up 6.6% year over year, beat by $10 million. 

Best Buy (NYSE: BBY) EPS of $1.40 beat by nine cents. Revenue of $9.67 billion, up 2.3% year over year, beat by $80 million. Better, as noted by Best Buy CFO Matt Bilunas, “Today we are raising our full year forecast to reflect the strong Q3 results and our current outlook for Q4. In Q4, we expect comparable sales growth in the range of (1.0%) to 1.0% and adjusted operating income rate in the range of 4.8% to 4.9%.” 

Invest for the Cold

When the weather gets too cold, investors typically look into natural gas and power generator stocks. And while those are solid bets for cold weather, you may also want to look at coat stocks.

Look at VF Corp.

VFC Corp. (NYSE: VFC), the company behind The North Face, is expected to turn higher shortly.

In most years, the stock briefly pushes higher. In 2024, it ran from $19 to $29. For 2023, for example, VFC ran from about $15.50 to a December high of $20.19. In 2022, it ran from about $27 to $31.19. In 2021, it ran from about $59 to $69.84. While the gains haven’t always been substantial, money has been made.

Canada Goose Holdings

There’s also Canada Goose Holdings (NYSE: GOOS), a holding company of luxury winter clothing manufacturers. Much like VFC, GOOS also tends to push higher as the weather gets cooler.

In 2024, GOOS ran from about $9.25 to $12. For 2023, GOOS ran from a low of about $10.07 in October to $13.86 by February. In 2022, GOOS ran from $15.24 in October to a high of $24.73 by late January. In 2021, GOOS ran from about $36 in October to a high of $51.87 by November.