U.S. stocks erased a big morning gain to turn lower. The S&P 500 dropped as much as 1.1% Thursday after initially soaring toward what seemed like its best day since May.

Will US Stock Market Open on Thanksgiving and Black Friday? Check the remaining Wall Street holidays for 2025 and the full list of holidays for the year 2026.

Deals roared back in the second half of 2025 as CEOs pounced on once-in-a-generation transactions, including Union Pacific’s $85bn bid for Norfolk Southern, the $55bn Saudi-backed take-private of Electronic Arts, Anglo American’s $50bn merger with Teck and Kimberly-Clark $49bn takeover of Tylenol maker Kenvue.

More swings are rocking Wall Street, except the U.S. stock market is jumping this time. The S&P 500 took off and rallied 1.5% Friday, flirting with its best day since May, after bobbing up and down through the morning.

Wall Street's main indexes were mixed at the open on Tuesday as investors took stock of a series of delayed economic data to gauge the health of the U.S. economy, while Alphabet gained after a report said Meta was in talks to spend billions on the Google parent's chips.

But Nvidia was the main laggard as investors continued to keep close watch on the Fed. Markets are now pricing in a more than 80% probability of a quarter-point interest rate cut

The Nasdaq rallies more than 2%. Novo Nordisk sinks after weight-loss drug falls short on Alzheimer’s test. Michael Burry’s big reveal falls short.