Tech Giants and Crypto Stage Impressive Comeback: Market Revenge Trade Gains Momentum

The past session showcased what traders like to call a “revenge trade” — a forceful reclamation after recent weakness. Bitcoin cruised to $89.15K with a +1.65% daily gain, signaling renewed appetite for digital assets. Meanwhile, the Magnificent Seven technology stocks collectively surged, with Tesla jumping +7% and Alphabet climbing +6% following breakthroughs in its Gemini 3 AI integration with custom chips and cloud infrastructure.

Crypto-related equities particularly benefited from this reversal. Robinhood surged +7%, MicroStrategy rallied +5%, and the iShares Bitcoin Trust ETF added +5.5%, suggesting institutional and retail enthusiasm has returned to the sector. Whether driven by holiday shopping psychology or genuine technical recovery, the narrative of a prolonged crypto downturn appears premature.

Corporate Earnings Paint a Mixed Picture

As the final stretch of Q3 earnings unfolds during this holiday-compressed week, two notable reports emerged after Monday’s close. Agilent Technologies delivered fiscal Q4 results meeting consensus expectations at $1.59 per share, though revenues of $1.86 billion marginally exceeded the $1.83 billion forecast. The measurement tools provider guided Q1 slightly below estimates, causing modest profit-taking despite year-to-date gains of +14%.

Zoom Communications outperformed on both metrics: delivering $1.52 EPS against $1.43 expected and $1.23 billion in revenue versus $1.21 billion projected. Management raised forward guidance, and shares extended gains +3.5% in after-hours trading.

This Week’s Major Market Events and Calendar Drivers

The trading calendar compresses significantly through the holiday week. Thursday will see a complete market closure for Thanksgiving, while Friday’s session will end at 1pm ET. Most critical data releases concentrate on Tuesday morning.

Retail-focused earnings lead the calendar, featuring Best Buy, Abercrombie & Fitch, Dick’s Sporting Goods, and Alibaba—all carrying Hold ratings except Alibaba at Strong Sell. However, macroeconomic releases may prove more consequential: delayed September Retail Sales and PPI figures alongside Case-Shiller Home Prices and Pending Home Sales will offer inflation signals.

Employment data carries particular importance. ADP’s weekly jobless change report precedes the open; prior weeks showed -2.5K and -11K private sector job losses respectively. Should weakness persist through Wednesday’s Weekly Claims, market participants may reprice Federal Reserve rate cut expectations, potentially factoring in additional 25 basis-point cuts into 2026.

The market’s conviction on whether this week’s data warrants policy recalibration could determine whether today’s bullish revenge trade extends into year-end or proves merely corrective.