US stock indexes fell on Monday, with the S&P 500 down -0.92%, Dow Jones down -1.18%, and Nasdaq down -0.83%. December E-mini S&P and Nasdaq futures also fell. Markets are anticipating key news later this week, including delayed US economic reports and Nvidia’s earnings. Alphabet’s stock soared +3% after Berkshire Hathaway disclosed a $4.9 billion stake. Investors are looking ahead to Nvidia’s earnings for AI outlook and earnings reports from Walmart, Target, and Home Depot to gauge consumer spending. The US economic schedule is packed this week with various reports being released.

The Nov Empire manufacturing survey showed a surprising rise to a 1-year high of 18.7, supporting stocks. The markets are pricing in a 41% chance of another -25 bp rate cut at the December FOMC meeting. Fed Governor Waller called for a rate cut due to concerns about the labor market. Q3 earnings season is wrapping up, with 82% of S&P 500 companies beating forecasts. Overseas stock markets closed lower, and European government bond yields dropped.

In stock news, Alphabet and Tesla rose, while other tech stocks like Nvidia, Apple, and Meta fell. Amazon fell -0.8% after news of potential bond sales. Chip stocks mostly closed lower, with companies like Micron and Qualcomm seeing declines. Crypto stocks dropped following a decline in Bitcoin. Zymeworks and Jazz Pharmaceuticals saw gains from a collaboration on cancer therapy. Rubrik fell despite an upgrade, while Gap fell despite an upgrade and Expeditors International rose after an upgrade. Dell Technologies, HP Enterprise, Sealed Air Corp, and HP Inc all fell after downgrades. Earnings reports for various companies are expected on 11/17/2025.

Read more at Barchart: Stocks Fall Ahead of Nvidia Earnings and US Economic Data