Markets closed higher ahead of Thanksgiving as the S&P 500 rose 0.7 percent, marking a fourth straight positive session. Traders favored tech and consumer names while industrials felt pressure from a weak farm outlook. Short term, holiday shopping and upbeat corporate guidance helped push sentiment. Longer term, Deere ( NYSE:DE) warning about another down year for big agriculture could reshape equipment demand and rural credit risk. Globally, US farm pain matters for commodity flows in Europe and emerging markets. Recent trends show two years of stress for row-crop farmers and the industry now sees 2026 as a potential bottom. This matters now because stocks entered the holiday with narrow momentum and fresh corporate drivers that will influence December positioning.
Session overview and market drivers
The S&P 500 ended the session up 0.7 percent. Gains built across multiple sectors and reflected rotation into consumer discretionary and select growth names. Volume thinned as traders wound down before the holiday weekend. Positive momentum was not broad based but it held through the close.
Robinhood Markets (NASDAQ:HOOD) stood out, jumping 10.9 percent after unveiling plans for a derivatives exchange aimed at expanding its prediction markets offerings. The move drove retail interest and pulled smaller brokers higher. Petco Health and Wellness (NASDAQ:WOOF) also moved sharply, jumping more than 14 percent after the company raised full year earnings guidance. Those two headlines helped offset pressure from industrials and crowd concerns around the farm sector.
Deere (NYSE:DE) warns of another tough year for US farms
Deere reported that sales to large-scale farms in the US and Canada could fall 15 percent to 20 percent next year. The company said row-crop farmers continue to face rising input costs, weaker crop prices, and the lingering effects of tariffs and trade friction. Deere also noted that demand for new large equipment remains soft, and its inventory of big tractors ended the fiscal year at the lowest unit level in more than 17 years.
Deere ( NYSE:DE) delivered mixed results. Net sales rose 14 percent year over year last quarter thanks to strength in other business lines, while profit slipped to $1.07 billion from $1.25 billion the prior year. Management said it is keeping production tight to match current demand. The chief financial officer said 2026 could be the bottom of the cycle, and pointed to the recent US-China trade agreement as one factor that could support a recovery.
This matters in the near term because weakened equipment sales weigh on manufacturers, dealers, and regional banks that lend to farmers. Over time, a prolonged period of lower equipment purchases could increase the market for used machinery and change capex patterns across the agricultural supply chain. Internationally, weaker US farmer incomes will affect commodity exports and could shift planting and crop flows to other producing nations.
Corporate headlines that moved stocks today
Robinhood (NASDAQ:HOOD) led the market in percentage gains. The brokerage said it will launch a new derivatives exchange to expand prediction markets. Investors rewarded the plan as a way to diversify revenue and build new retail engagement. The news underscored how product innovation can quickly move retail-focused names.
Campbell Soup Company (NYSE:CPB) became a reputational focus after audio surfaced that allegedly captured an information technology vice president criticizing the company and its products. Campbell ( NYSE:CPB) said it concluded the voice matched a named executive and that the individual is no longer employed. The episode highlights how internal conduct and public leaks can pressure corporate communication and brand trust. The market response was muted in the session, but reputational issues can affect sales and margins over time, especially in consumer staples.
Petco (NASDAQ:WOOF) raised its full year guidance and the stock rallied more than 14 percent. The stronger outlook suggests resilience in pet spending during the holiday shopping window. Retailers with clear in-store and online strategies continue to benefit from seasonal buying patterns and targeted promotions.
Consumer signals, AI study, and Black Friday implications
Retail activity is a core near-term driver as Black Friday approaches. Early forecasts from the National Retail Federation and industry trackers point to Nov. 28 as one of the busiest shopping days of the year. Many chains extended discounts in the days running up to the event while also reserving doorbusters and one-day deals for in-store traffic. That strategy helped lift retail names in the session and will shape revenue flow into December.
An MIT study released today found AI could replace 11.7 percent of the US labor market. The finding adds to conversations about automation and productivity. In the short run, the study may alter investor thinking on sectors that face higher automation risk. Over the long run, differential adoption across countries will affect wages, consumption trends, and corporate cost structures. The immediate market effect is more narrative than capital shift, but it will influence sector rotations and hiring plans in the coming quarters.
Implications for traders and the broader market
Today’s session combined holiday sentiment, concentrated corporate news, and a notable warning from a major industrial name. The S&P 500's gain reflected selective buying rather than broad conviction. Short term, positioning ahead of the long weekend and updates from retailers should keep volatility contained. Traders will watch any follow up from Deere for signals on supply chain demand and potential credit stress in agricultural regions.
From a regional perspective, the US farm outlook carries outsized implications for Midwest economies and lenders that serve rural customers. Globally, changes in US planting and equipment purchases will affect agricultural trade flows in Europe and emerging markets that compete in grain exports. In addition, tech and retail headlines continue to shape equity flows as investors balance holiday sales data against signs of cyclical weakness.
Today’s session wrapped before Thanksgiving with a market tone that favors selective winners. News on company strategy, corporate governance, and sector specific cycles will continue to steer returns in the near term. For now the market moves reflect a mix of seasonal buying, targeted corporate catalysts, and a reminder that cyclical pockets of the economy remain under pressure.
