Wall Street Rallies Into Holiday Break as AI Giants, Small Caps Lead Broad Advance -( $AVGO $BTC $EPRX $EXAS $GOVX $INTG $NOK $OKLO $OPEN $RIO $SOAR $TSLA $TSM Rise!)

Wall Street went into the Thanksgiving break loosening its tie, as rate‑cut optimism and a broad risk-on mood carried U.S. equities higher into Wednesday’s close. The S&P 500 added roughly .69% to 6,812.61 as investors rotated back into cyclicals and small caps, the Dow also logged a solid gain north of .67% to 47,427.12 helped by health care and industrial stalwarts, while the Nasdaq climbed .82% to 23,214.69 as large cap tech shook off early wobbliness. The Russell 2000 outpaced the large-cap benchmarks with a gain of about 1.10% to 2,486.12, a late‑cycle flourish that suggests traders are willing, at least for the moment, to believe in both a soft landing and a friendlier Fed.

Macroeconomic and policy backdrop

Shutdown-delayed data continued to distort the normal calendar, with several key government reports still pushed into the indeterminate future even as markets lean hard on private surveys and high‑frequency indicators. Initial jobless claims remained a focal point for traders as one of the last clean reads on the labor market ahead of the December FOMC meeting, while survey evidence still points to decent growth but persistent price pressure where tariffs bite hardest.

On the policy front, the Fed’s latest Beige Book reaffirmed a picture of modest growth and cooling but sticky inflation, reinforcing market odds that the next move is a cut rather than another hike, even as officials keep their rhetorical options open. Tariff-related noise stayed elevated, with recent analyses noting that higher duties are feeding through to certain input costs and complicating the inflation outlook, but there were no game‑changing new tariff announcements on the day. As for Washington’s funding drama, the government shutdown has officially ended but left a statistical hangover: some data—most notably elements of the October labor and GDP series—will never be fully reconstructed, a reminder that fiscal politics now leave scars rather than mere bruises on the economic record.

Fed, yields and the curve

Treasury trading moved lower, with the 10‑year yield hovering around 3.996% and the 2-year at 3.483% as futures markets priced in a high probability of a December rate cut. The curve remained inverted but a touch less so, a quiet vote that recession risks are receding even if the all‑clear has yet to be sounded. Fed officials are now squarely in the pre‑meeting countdown; the next policy statement and press conference in December loom as the moment when markets will find out whether the “one and done” cut narrative becomes official doctrine or just another seasonal fable.

Commodities, Crypto, M&A

Gold resumed its role as the market’s favored anxiety hedge, trading to 4,198.80 an ounce on a softer dollar and firmer conviction in near‑term easing; bullion is now up smartly for November and quietly outpacing equities on a risk‑adjusted basis. Silver prices continued higher tis week now at $53.745/oz. Oil stayed stuck in a tight late‑year range near the high‑50s per barrel for WTI closing at $58.57/bbl, with traders more focused on OPEC+ headlines and incremental demand data than on any immediate supply shock. Bitcoin (BTC), having recently notched fresh lows recovered nearly 3.5% on Wednesday to above $90k again. Corporate moves and deal flow

Corporate news was busy but hardly frantic, with more incremental positioning than blockbuster drama. Elevated chatter continued around large‑cap health care’s appetite for precision‑medicine and diagnostics assets—deals like Abbott’s (ABT, $128.54, +.38%) pursuit of Exact Sciences (EXAS, $101.45, +56.95% over the last month) remain firmly on traders’ M&A bingo cards—but there were no new, market‑moving acquisition announcements of that magnitude officially inked on the day. On the IPO front, both NYSE and Nasdaq saw a modest trickle of smaller listings and updated filings but nothing with the scale or sizzle to move indices on its own; in the current environment, private‑equity exits are still more marathon than sprint.

Big‑cap and thematic names

Among the Large‑caps, Alphabet (GOOG, $320.28, +9.31% over the last 5-days) extended its recent run as the communication‑services sector’s standard‑bearer as buy‑the‑dip traders treated regulatory noise and AI‑spend worries as background hum rather than investment thesis and as Google got into the chip manufacturing game in a big way. Apple (AAPL, $277.55, +.21%) and Meta (META, $633.61, +7.33% over the last 5-days) participated in the broader tech rebound with respectable gains, helped by a calmer rate backdrop and unrelenting enthusiasm around their respective AI and services roadmaps. NVIDIA’s session was more theatrical: the stock swung from an early loss of more than 4% to $180.26, +1.37% after reports that the Trump administration may allow certain high‑end chips to be sold into China, a reminder that in AI hardware, policy risk and growth optionality are now joined at the hip.

Taiwan Semiconductor (TSM, $289.96, +1.85%) and Broadcom (AVGO, $397.57, +3.26%) benefited from the friendlier tone in semis as the PHLX Semiconductor Index finished higher, even as NVIDIA and AMD remained the designated volatility donors of the group. Intel INTC, $36.81, +2.74%), still in the midst of its foundry and turnaround story, tracked the chip complex upward, as investors continue to demand execution before rerating the narrative. Tesla (TSLA) added to recent gains moving up 1.71% to $426.58 as EV sentiment stabilized and analysts leaned supportive despite trimming some outer‑year forecasts, underlining that for this name, valuation debates are a feature, not a bug.

Sector standouts and stock‑specific notes

Health care enjoyed another strong session, with Eli Lilly (LLY) pressing near fresh highs as investors leaned into its obesity and diabetes franchises and treated near‑term pricing and reimbursement questions as the sort of “high‑class problems” growth investors can live with. Oracle (ORCL) recovered +4.01% TO $204.96. McDonald’s inched higher CLOSING UP .63% TO $312.40, continuing to benefit from its “affordable indulgence” positioning at a time when consumer‑sentiment surveys still show households grumbling about prices even as they keep ordering fries.

In the cross‑currents of old and new energy, Rio Tinto (RIO, $72.20, +1.59%) caught a bid alongside other diversified miners as investors revisited the long‑term demand story for copper and critical materials tied to both AI infrastructure and the green transition. Nokia (NOK, $6.08, +.33%) moved modestly with the broader communications‑equipment space, its 5G‑and‑beyond story ticking along but hardly rewriting any growth playbooks in a single session.

High‑beta and next‑gen names

Among higher‑beta stories, Palantir (PLTR, $165.77, +1.36%) remained a favored speculative AI platform, with the stock moving in step with broader AI enthusiasm and ongoing government‑contract chatter, a name where every incremental contract still fuels the “operating‑leverage to come” narrative. Opendoor (OPEN, $7.78, +.52%) traded in line with other housing‑sensitive names, catching some tailwind from lower‑yield hopes but still tethered to a housing market where activity, not just prices, will determine how fast its model can scale. OKLO ($88.72, +3.44%), one of the more closely watched advanced‑nuclear plays, stayed a niche but symbolically important part of the energy‑transition complex, with price action reflecting both excitement about next‑gen reactors and the cold reality that regulatory timelines move at anything but AI speed.

VP Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.3928), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, today (Nov. 17) announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion. On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $6.23, +1.63%), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated, “These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.40. +5.43%), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, reported (Nov. 13) its financial results for the quarter ended September 30, 2025, and provided a business update highlighting key corporate and clinical advancements across its vaccine and oncology programs. David Dodd, CEO of Geovax stated, “As highlighted in this report, during the third quarter GeoVax continued making important progress, advancing innovative vaccines and immunotherapies that address urgent and underserved medical needs. With continued global Mpox spread and constrained vaccine supply, our GEO-MVA program represents a U.S.-based, scalable, next-generation MVA platform. Our EMA and BARDA-aligned program position GeoVax to accelerate regulatory readiness and commercial entry. For our GEO-CM04S1 COVID-19 vaccine program, recent clinical presentations validate our belief that multi-antigen vaccines – expressing both spike and nucleocapsid – are essential for breadth and durability in vulnerable immunocompromised populations. In particular, the robust immune responses demonstrated in Chronic Lymphocytic Leukemia (CLL) patients represents a meaningful step forward in addressing the unmet needs of over 40 million immunocompromised Americans. In our Gedeptin(R) oncology program, the expansion into multiple solid tumor indications builds upon a growing recognition that tumor-targeted immune priming can dramatically improve checkpoint outcomes. We are executing a clear path to clinical and commercial value creation. GeoVax continues to execute with purpose and discipline. Our multi-antigen vaccine and immunotherapy platforms position the Company squarely within the national call to strengthen America’s health security, expand domestic manufacturing, and deliver equitable global solutions.”

Volato Group, Inc. (NYSE American: SOAR, $1.34, +6.35%) and M2i Global, Inc. (MTWO, $.0902), a company specializing in the development and execution of a complete global value supply chain for critical minerals, announced on Nov. 19 that Nimy Resources (“Nimy”) and M2i will collaborate with the aim of forming commercially binding contract terms for the respective sale and purchase of gallium production. They also announced (Oct. 16) the next phase of development of the digital and commercial infrastructure underpinning the U.S. Strategic Mineral Reserve (SMR). M2i initiated the SMR framework and technical specifications earlier this year. Volato is now applying its proven enterprise-software expertise to build and operationalize the secure technology backbone that will support critical mineral traceability, contracting, and compliance across the United States and allied nations. This infrastructure is being developed to serve as the market-facing layer of the U.S. Strategic Mineral Reserve initiative, providing miners, refiners, recyclers, manufacturers, and government entities with a trusted environment for physical critical mineral transactions—with verified provenance, end-to-end custody visibility, and regulatory compliance at its core.

Serina Therapeutics (NYSE American: SER, $3.91) stands at a pivotal juncture as it harnesses fresh capital, regulatory momentum, and a sharpened communications strategy to propel its lead program, SER-252, into late-stage clinical testing for advanced Parkinson’s diseas. The Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have exhausted standard oral therapies.

The InterGroup Corporation (NASDAQ: INTG, $31.02, +1.91%) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

Nokia (NOK, $6.08, +.33%) is promising investors a sleeker, AI‑age version of itself by 2028, aiming to lift profits by as much as 60% while quietly admitting that the road there runs through a restructuring zone.

Opendoor Technologies Inc. (OPEN, $7.78, +.52%) a digital red estate disruptor, jumped higher as the belief that interest rates would be cut in December rose significantly.

DoubleVerify Holdings Inc. (DV) closed at at $10.43. DoubleVerify Holdings is a software company that helps advertisers verify and improve the quality and performance of their digital ads across the web, apps, social platforms, and connected TV. DoubleVerify provides a digital media measurement and analytics platform that checks whether ads are viewable, shown to real people (not bots), served in brand‑safe environments, and delivered in the right geography. Its tools give advertisers independent, third‑party data so they can reduce ad fraud, avoid unsafe content, and get better return on their digital ad spend.DoubleVerify primarily earns revenue by charging advertisers, agencies, and platforms based on the volume of media it measures (such as impressions or transactions). Its technology is integrated with major ad platforms and programmatic exchanges, and is used globally by brands, marketplaces, and publishers to monitor and optimize campaigns.