Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Nov. 26, 2025.
The U.S. stock market was closed Thursday stateside for Thanksgiving Day and will reopen on Friday until 1 p.m. ET.
With approximately just 3 hours of trading left for the month, major U.S. indexes are looking to end November in the red, based on CNBC calculations.
As of Wednesday's close, the S&P 500 was down 0.4% month to date, the Dow Jones Industrial Average 0.29% lower during the same period and the Nasdaq Composite retreating 2.15%, vastly underperforming its siblings as technology stocks stumbled in November.
Unless there's a huge jump in stocks during the shortened trading session on Friday stateside — which might not be an unequivocally positive move since it would raise more questions about the market's sustainability — that means the indexes are on track to snap their winning streaks. The S&P 500 and Dow Jones Industrial Average have risen in the past six months, and the Nasdaq Composite seven.
It will also mark a divergence from the historical norm. The S&P 500 has advanced an average of 1.8% in November since 1950, according to the Stock Trader's Almanac. And in the year following a U.S. presidential election, it typically rises 1.6%.
But it's not been a typical post-presidential election year. It's hard to see the market, in the coming months, or even years, moving according to any historical trajectory.