Tech Rally Kicks Off: Here's What You Need to Know

The AI trade just got a major adrenaline shot. On Monday, all seven Mag 7 stocks surged, with Tesla jumping +7% and Alphabet hitting fresh all-time highs (+6%) after announcing deeper integration of Gemini 3 AI with custom chips and cloud infrastructure.

But here’s the real headline for crypto folks: Bitcoin reclaimed $89K territory with a +1.7% daily bounce, effectively killing the “crypto winter” narrative—at least temporarily. Crypto-linked stocks followed suit, with Robinhood climbing +7% and MicroStrategy up +5%, while Bitcoin’s iShares ETF (IBIT) grabbed +5.5% gains.

Some are chalking it up to Black Friday bargain hunting, but the broader story is clear: the recent crypto selloff just found a floor, and the appetite for risk assets is returning.

What’s Next?

This shortened holiday week packs major catalysts into just two days. Tuesday brings retail earnings (Best Buy, Dick’s Sporting Goods, Alibaba) plus crucial inflation/employment data—delayed PPI, retail sales, and ADP employment figures. If labor data continues weakening, expect renewed pricing of Fed rate cuts into 2026.

Thursday: Markets closed (Thanksgiving). Friday: Early close at 1pm ET.

The playbook is simple: tech strength + crypto stability + weak jobs data = potential rocket fuel for the December rally.