U.S. Stocks Trade Sideways as Market Rally Loses Steam

Barry Adams
02 Dec, 2025
New York City

Stocks lacked direction in early trading in New York, and investors debated possible rate outlooks after the Fed's policy meeting next week.

The S&P 500 index increased 0.01%, the tech-heavy Nasdaq Composite advanced 0.02%, and crude oil hovered near a four-year low. 

Popular indexes struggled to advance this week, and the Nasdaq Composite halted a multi-month rally, weighed down by higher-for-longer inflation and AI bubble worries. 

Investors are hoping that the Fed's rate cut decision could spark a year-end tech stock rally, which could broaden to include a wider list of sectors.  

Across the Atlantic, the eurozone's jobless rate in October stood at 6.4%, matching the rate in the previous month, according to the latest update from Eurostat. 

Inflation in the currency zone edged up to 2.2% in November from 2.1% in the previous month, and the core rate held at 2.4%, the statistical agency said in a separate report. 

 

U.S. Movers

MongoDB jumped 22% to $404.0 after the database developer reported strong fiscal third-quarter results. 

Revenue increased 19% to $628.3 million from $529.4 million, net loss shrank to $2.0 million from $9.8 million, and diluted loss per share dropped to 2 cents from 13 cents a year ago. 

MongoDB estimated fourth quarter revenue to range between $665 million and $670 million, adjusted income from operations between $139 million and $143 million, and adjusted diluted earnings per share between $1.44 and $1.48. 

For the fiscal year 2026, the database developer estimated revenue between $2.434 billion and $2.439 billion, adjusted income from operations between $436.4 million and $440.4 million, and adjusted diluted earnings per share between $4.76 and $4.80. 

Credo Technology Group soared 18% to $202.0, and the data center connectivity solution provider reported sharply higher revenue and earnings in the fiscal second quarter ending in October. 

Revenue increased 272% to $268.0 million from $72.0 million, net income swung to a profit of $82.6 million from a loss of $4.2 million, and diluted earnings per share improved to a profit of 44 cents from a loss of 3 cents a year ago.  

The company estimated fiscal third quarter revenue to range between $335 million and $345 million, gross margin between 63.8% and 65.8%, and operating expenses between $116 million and $120 million.