US Stocks Rally on Tech Gains and Fed Rate Cut Hopes | The Close 11/24/2025

Justine Palefsky, Co-founder and CEO of Kindred, highlighted the rapid growth of her home-swapping platform in an interview with Katie Greifeld on Bloomberg's 'The Close.' Palefsky emphasized that Kindred is not a direct competitor to Airbnb or traditional hotels but offers a unique third option for travelers, focusing on affordability and fostering human connections.

Deon Nicholas, Co-founder and President of Forethought, announced that the company has achieved $1 billion in return on investment (ROI) for its clients by leveraging agentic AI to reduce costs, expedite resolutions, and enhance customer retention. This statement was made during an interview on Bloomberg's 'The Close' with Katie Greifeld and Scarlet Fu.

Jim Caron, CIO of Morgan Stanley Investment Management, predicts that inflation will not pose as significant a challenge in 2026, with 2025 expected to be a transitional year marked by a soft patch in the economy. He noted that while the labor market may experience initial weakening, it is anticipated to strengthen in the long run.

Morgan Stanley has raised its stock price target for Wynn Resorts to $132 ahead of an upcoming event in the UAE, reflecting a positive outlook for the company. This adjustment indicates confidence in Wynn's potential performance in the market.

Yie-Hsin Hung, CEO of State Street Investment Management, expressed a desire for a 25 basis point cut in Federal Reserve interest rates during December, citing concerns over rising unemployment, slower hiring, and declining consumer confidence in her discussion with Katie Greifeld on Bloomberg's 'The Close.'

Jim Caron, CIO of Morgan Stanley Investment Management, stated on Bloomberg that the market is uncertain about the likelihood of a Federal Reserve rate cut in December, suggesting a 50/50 chance. This uncertainty follows mixed signals from economic indicators and employment data.

Morgan Stanley has raised its stock price target for JOYY to $66, driven by expectations of growth in advertising revenue. This adjustment reflects the firm's confidence in JOYY's potential to capitalize on increasing ad spending in the digital space.

Morgan Stanley has projected that the Canadian dollar is set for a recovery by 2027, indicating a positive outlook for the currency amid current economic fluctuations. This forecast comes as the market grapples with uncertainties surrounding interest rates and inflation.