Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, November 24th, and I'm your host, Kim Kott. Our top story so far.

Wall Street kicked off a holiday shortened week with a solid rebound. The NASDAQ jumped 2.6%, the S&P gained 1.5%, and the Dow added 0.4%.

Nine of the 11 S&P sectors finished higher, led by communication services.

Seeking Alpha analysts, Demertokic, said the S&P 500 bounced from key technical support, led by the

Mag 7, and broadly the AI group, as the VIX slid towards 20, easing fears of an imminent

AI bubble burst. He added that the bullish sentiment returned as market odds of a December

Fed rate cut climbed towards 80% after Dovish comments from New York Fed President Williams.

David Loutt, CIO at Carrick's Financial, echoed that tone. November may be a down month,

but the pullback paves the way for a rebound and a rally in December. He said recent worries

over AI in the labor market haven't come to fruition, pointing instead to traditional late-year shakeout,

not the start of a deeper correction. Among active stocks, Tesla rallied after Elon Musk highlighted

the company's work in AI chip design, Credo Technology and Broadcom were also higher as semiconductors

and other AI-linked names surged. And Novo Nordisk slumped, after saying a pill version of weight-loss drug of Zemnik,

failed to show the progression of an Alzheimer's treatment in two large studies.

In other news of note, Big Short Investor Michael Burry launched the substack over the weekend.

He had teased a major November 25th announcement, but the debut may have

arrived early. The newsletter, titled Cassandra Unchained, promises readers a front-war seat to bury's

market analysis, projections, and bubble-spotting, all through a historical lens. An HSBC says

OpenAI could need $207 billion in new financing by 2030.

The estimate is driven by projected compute capacity and rental costs.

Analysts noted the key variable is flexibility, whether Open AI can adjust commitments depending on demand, revenue, and access to capital.

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