Stock market today: Dow, S&P 500, Nasdaq step higher as bitcoin surges in broad bounce bac

December 2, 2025

LIVE Updated 35 mins ago

2 min read

US stocks stepped higher on Tuesday, on track for a comeback after a fragile start to December trading that saw sharp losses on Wall Street and in crypto.

The S&P 500 (^GSPC) rose 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) added roughly 0.7%. The Dow Jones Industrial Average (^DJI) gained 0.6%.

Stocks are regaining ground as markets shake off the risk-off sentiment that dominated on Monday, snapping five-day winning streaks for the three major US indexes. The losses marked a rocky start to December — typically a strong month for equities — and added fuel to a debate over the chances of a so-called Santa Claus rally.

In another sign of recovering spirits, bitcoin (BTC-USD) rose to trade above $92,000, putting the brakes on a weeks-long skid and eyeing its best day since April. On Monday, the top cryptocurrency tumbled to as low as $84,000 in its worst day since March. Meanwhile, shares of crypto-linked names Coinbase (COIN) and Robinhood (HOOD) also turned upbeat after getting hit the day before.

Investors are now watching for catalysts that could revive a year-end rally, against a background of persistent concerns over stubborn inflation, stretched market valuations and the uncertain payoff from heavy AI spending.

Bets on Federal Reserve easing have ramped up sharply ahead of the central bank’s two-day meeting next week. Markets are pricing in an 87% probability of a cut on Dec. 10, up significantly from mid-November, according to the CME FedWatch tool.

No notable data updates are expected on Tuesday in the countdown to this week’s marquee release: the September print of the consumer inflation index watched by the Fed.

On the earnings front, Marvell (MRVL) is set to release results after market close. The US chipmaker’s stock rose after The Information reported it is in advanced talks to buy chip start-up Celestial AI in a multibillion-dollar deal. Crowdstrike (CRWD) and Okta (OKTA) are also on Tuesday’s light docket.

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Strategy (MSTR) stock rebounded on Tuesday as the price of bitcoin (BTC-USD) climbed back above $91,000.

Shares of the company which pioneered a trend in digital asset treasurys (DATs) have been under pressure as the price of the world’s largest cryptocurrency has collapsed nearly 30% from its all-time high price north of $126,000 in October.

Strategy’s mNAV, or the ratio of its market value to its net bitcoin-asset value, has been getting closer to 1x, raising concerns that the company could eventually be forced to sell some of its bitcoin to meet financial obligations.

On Tuesday, Strategy CEO Phong Le pushed back against the question of what happens in a bitcoin winter and what happens when Strategy’s mNAV starts to compress and there are other alternatives for investors such the cryptocurrency itself or exchange traded funds.

“This is probably one of the maybe less understood notions about Strategy,” Le told Yahoo Finance on Tuesday morning. “We’re an operating company that creates — our products are bitcoin-backed securities.”

“The valuation of the company shouldn’t be equal to the underlying assets. The valuation of the company should be equal to the ability to grow the underlying assets, grow income and grow the business,” he said.

“We look much more like a ‘Mag 7’ tech stock than a closed-ended fund or an ETF,” added Le.

On Monday, Strategy announced a $1.44 billion reserve fund for dividend payouts and interest on debt, should volatility in bitcoin continue.
Cryptocurrencies and related stocks are moving higher on Tuesday after a rough start to the month. But some experts still believe bitcoin (BTC-USD) could start sinking again.

“If we see a break below $81 [thousand to] $80,000…a trap door opens on this thing,” Tom Essaye, Sevens Report Research founder, told Yahoo Finance. “We’ve had a lot of, sort of, late hands come in recently, especially with the advent of these ETFs.”

Bank of America (BAC) recently announced that it will begin covering four bitcoin ETFs in January, recommending a 1% to 4% allocation to the digital assets for its clients.

“If you see investors start tax-loss selling into the end of December, then I think you could easily see this go down into the $70,000s or even the $60,000s very quickly … It really could get ugly.”

Unlike tax-loss selling in stocks, where investors are unable to buy the same or a similar stock within 30 days to reap the tax benefits, crypto investors can sell at a loss, claim the tax benefit, and then repurchase the asset.

Fed Watch Advisors founder Ben Emons believes “the downside range is $55K to $75K, based on past trends.”

He added: “For now, bitcoin is stabilizing but investors closely monitor what is happing with Strategy.”

Strategy (MSTR), which holds about 3% of all bitcoin, has seen a major decline in its stock. Shares are down more than 35% year to date and roughly 60% from their all-time high in July.

The company said Monday that it built a $1.44 billion U.S. dollar reserve to fund future dividend and interest payments.

Strategy CEO Phong Le told Yahoo Finance that the reserve would help address the “challenge” around short-term fluctuations.

“The big challenge people had … was how we’re going to pay the dividends in the short term, if we see volatility in bitcoin, volatility in MSTR,” Le said. “Now we’ve created this US dollar reserve to address that challenge.”

Watch Essaye’s comments below:
Here’s a look at some top movers trading during Tuesday trading:

Nvidia (NVDA) gained 1% in afternoon trading after CFO Colette Kress said the company has yet to finalize its $100 billion investment in OpenAI (OPAI.PVT). Kress’s comments came as investors begin to scrutinize a tangle of artificial investments that, to some, appear dangerously circular and after OpenAI’s CEO Sam Altman warned employees that the company is facing “code red” regarding competition.

Boeing (BA) continued to gain after the planemaker’s CFO said the company expects positive free cash flow in 2026 (in the “low-single digits” billions of dollars). Investors cheered the improving cash flow development after the company burned $2 billion in 2025. Boeing stock rose 9%.

MongoDB (MDB) and Credo (CRDO) stocks surged by double digits, rising 25% and 15%, respectively, after the companies reported quarterly results after the close on Monday. Credo’s CEO called the earnings the “strongest quarterly results in Credo’s history” as the company swung to a profit amid booming AI demand. Read more about their earnings reports here.

Beyond Meat (BYND) shares fell nearly 4% on Tuesday after a 36% spike the day before. With no clear catalysts for the outsized moves, the moves suggested traders were piling back into the stock as a meme play.

American Bitcoin (ABTC), the bitcoin mining company backed by Eric Trump and Donald Trump Jr, saw its shares plunge 37% and was halted multiple times for trading as digital assets sold off. Bitcoin (BTC-USD), however, rebounded from Monday’s lows.

Check out more trending tickers here.
Yahoo Finance’s David Hollerith reports:

Read more here.
The US government is looking to round up the industrial-sized back-up diesel generators at big box retailers like Walmart (WMT) and Target (TGT) to slow down rising electricity prices, Energy Secretary Chris Wright said on Tuesday.

If the US were able to tap into the extensive network of generators throughout retailers, data centers, and other industrial hubs around the country, the power added would roughly equal 35 nuclear power plants and cut down on billions of dollars in cost needed to build new power generation equipment, Wright said in comments first reported by Bloomberg.

Shares in Generac Holdings (GNRC), the largest maker of industrial generators in the US, popped by roughly 1.8% Tuesday morning before paring gains back to flat.

“We’re going to unleash that 35 gigawatts of capacity that sits there today,” Wright said, according to Bloomberg reporting. “The massive data center build out over the next few years — most of it we can meet with generators.”

As the AI arms race — and, along with it, massive demand for energy-intensive data centers — has boomed, electricity prices have begun to rapidly climb around the country. Data centers require enormous amounts of power, and in the US alone, electricity demand is expected to grow five to 10 times faster over the next decade than it did in the previous decade, per Bank of America.

That change has put a large strain on the already capacity-constrained US power grid and the utility companies faced with the choice of passing costs onto ratepayers’ electric bills or eating costs themselves.
Intel (INTC) stock swung about 7% higher on Tuesday, hitting a 52-week high, as rumors swirled that the company could begin supplying chips to Apple (AAPL) in as little as two years.

Shares of the US-based chipmaker have climbed 19% over the past five days after analyst Ming-Chi Kuo wrote on X that Intel could begin shipping Apple’s lowest-end M processor as early as 2027.

“There have long been market rumors that Intel could become an advanced-node foundry supplier to Apple, but visibility around this had remained low,” Kuo wrote. “My latest industry surveys, however, indicate that visibility on Intel becoming an advanced-node supplier to Apple has recently improved significantly.”

Intel also recently pledged a $208 million investment to expand its assembly and testing operations in Malaysia, the country’s Prime Minister Anwar Ibrahim said. Malaysia makes up nearly 13% of the global market for chip assembly and testing, according to GlobalData.
Yahoo Finance’s Laura Bratton reports:

Read more here.
Boeing (BA) stock jumped 8% in early trading after CFO Jesus Malave said that the company expects higher deliveries next year and after its main rival, Airbus (AIR.PA), faced a delivery setback.

At the UBS Global Industrials and Transportation Conference, Malave said Boeing’s recovery “is in full force” and that the company will be ramping up production and deliveries in 2026. Though he noted deliveries in November may be “a little light.”

“We expect, absolutely, deliveries to be up in both cases, both 737 and both 787,” Malave said. “When you now fast-forward to 2026, we’re going to be increasing our deliveries, but there won’t be hardly any aircraft, if any at all, that will be coming out of inventory. So it will be really through the production rollout system that will be the source of the deliveries.”

Meanwhile, Airbus CEO Guillaume Faury told Reuters that the company discovered a panel issue with some of its A320 jets that will impact the planemaker’s year-end deliveries. The issue has already resulted in “weak” November deliveries, Faury said, and the company is assessing whether it will impact the year-end target of “around 820” jets delivered.

The gain in Boeing stock helped lift the Dow 0.3% during Tuesday’s trading.
US stocks moved higher at the open on Tuesday.

The S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) rose, while the tech-heavy Nasdaq Composite (^IXIC) added roughly 0.4%.

The gains come after a stocks slipped Monday to start December trading, snapping a five-day winning streak.
Bitcoin (BTC-USD) settled on Tuesday after suffering its worst day since March on Monday.

The world’s largest cryptocurrency bounced back by more than 1.5% in premarket trading after it tumbled 8% on Monday from a level around $91,000 to as low as $84,000. Bitcoin is now more than 30% off its all-time high of around $126,000.

Other cryptocurrencies, including XRP (XRP-USD), rose on Tuesday while ether (ETH-USD) fell another 0.3%.

Concerns that Japan’s central bank would raise interest rates, coupled with a hack on a DeFi platform, helped fuel the sell-off in crypto on Monday. Strategists also noted that weak sentiment contributed to the downdraft in digital assets.

“I don’t think that this is really a crypto winter yet,” FG Nexus CEO of digital assets Maja Vujinovic told Yahoo Finance on Monday. “This is simply kind of a risk-off shakeout from the market.”

Crypto stocks, which are highly correlated with crypto moves, also recovered somewhat in premarket trading. Coinbase (COIN) climbed 1.8%, while Strategy (MSTR) added 1.7%. Robinhood rose 1.3%.
Billionaires Michael and Susan Dell pledged $6.25 billion on Tuesday to President Trump’s investment accounts for children, providing 25 million children under 10 with an incentive to claim the new investment.

The AP reports:

Read more here.
Economic data: No notable economic data.

Earnings: CrowdStrike (CRWD), The Bank of Nova Scotia (BNS), Marvell Technology (MRVL), Okta (OKTA), American Eagle Outfitters (AEO)

Here are some of the biggest stories you may have missed overnight and early this morning:

Why the ‘tug of war’ in stocks will keep playing out

Congress has just weeks to tackle healthcare, AI

Gas prices fall to $3 a gallon, hitting lowest level since 2021

OECD lifts US growth forecast in face of tariffs

Crypto traders hit hard as Strategy ETFs plunge 80%

Big Tech ‘spend little, earn lots’ playbook is threatened by AI

Marvell in talks to buy Celestial AI in multibillion-dollar deal: report

OpenAI’s Altman declares ChatGPT ‘code red’ as rivals gain

Samsung debuts first trifold phone as Apple plays catch-up
Snowflake (SNOW) stock rose 4% before the bell on Tuesday. The cloud-based data storage company has seen its stock rise 44% this year. The group is also scheduled to release its earnings after the bell today.

Marvell (MRVL) stock rose more than 1% during premarket trading on Tuesday. The US chipmaker is in advanced talks to buy chip startup Celestial AI in a ‌cash-and-stock deal worth multiple billions of dollars, according to The Information.

Strategy (MSTR) rebounded on Tuesday before the bell and rose 1%. Bitcoin (BTC-USD) tumbled as much as 8% on Monday alongside crypto-related stocks, like Strategy, which closed 3% down on Monday.
Yahoo Finance’s David Hollerith reports:

Read more here.
MongoDB (MDB) stock rocketed up 2% in premarket trading on Tuesday after the cloud software company reported revenue well above its guidance for the third quarter.

Strength in the Atlas platform drove an increase in revenue, which reached $628.3 million in the quarter, a 19% year-over-year increase. The company previously guided for revenue between $587 million and $592 million.

MongoDB also recorded a $0.02 loss per share in its results on Monday, shallower than the $0.78 per share loss analysts were expecting, according to S&P Global Market Intelligence.

“Q3 was an exceptional quarter,” MongoDB CEO CJ Desai said. “Existing customers are expanding with us and net-new customer additions continue to show strength. Companies across industries and geographies are choosing MongoDB because we provide a unified data platform that powers mission-critical workloads today and also positions them to capitalize on the emerging AI platform shift.”

For the full year, the company expects revenue to hit $2.434 billion to $2.439 billion, up from its previous guidance of $2.34 billion to $2.36 billion.
Bloomberg reports:

Read more here.
Indexes across Asia saw solid gains throughout Tuesday’s trading session as regional gauges made headway against Wall Street’s decline, buoyed by rising global bond yields.

Reuters reports:

Read more here.