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Small Caps Hit Record Highs, Nuclear Stocks Rally: What's Moving Markets Thursday?

Benzinga•December 04, 2025 at 6:38 PM•Full Content

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Gist

Small-cap stocks hit record highs amid strong Fed rate cut expectations, while nuclear energy stocks surged on Nvidia CEO's AI power demand comments, and earnings results drove mixed market moves.

LLM Summary

The Russell 2000 hit a record high as investors bet on imminent Fed rate cuts, with nuclear energy stocks rallying sharply after Nvidia CEO Jensen Huang highlighted the need for nuclear power to support AI data centers. Dollar General soared 12% on strong earnings, while Intel fell 7% after a recent rally, and other stocks like Snowflake declined on weak results. Crypto and commodities saw modest moves, with Bitcoin dipping and gold rising.

Full Article Content

Small-cap stocks tracked by the Russell 2000 surged to fresh record highs Thursday as investors piled into the most rate-sensitive corners of the market ahead of next week's widely expected Federal Reserve rate cut.

Traders see almost no doubt the Fed will deliver a third straight 25-basis-point reduction, with futures assigning the move a nearly 90% probability.

Expectations for Fed cuts stretch well through 2026, with markets fully pricing in two additional cuts by June next year and assigning nearly 50% odds to a third by year-end.

By 12:50 p.m. in New York, the Russell 2000 was up 1% at 2,535, just shy of its late-October record of 2,540. Large caps continued to lag, with the S&P 500 flat and both the Nasdaq 100 and Dow Jones slipping slightly.

One standout theme came from nuclear-energy stocks, which rallied sharply after Nvidia Corp. (NASDAQ: NVDA) CEO Jensen Huang said nuclear power will be essential to meet the massive electricity needs of AI data centers.

The VanEck Uranium and Nuclear ETF (NYSE: NLR) jumped more than 4% on the day — its strongest session since late October — and has now risen in seven of the past eight trading days, gaining 14% over that stretch.

Individual names followed suit, with OKLO Inc. (NYSE: OKLO), NuScale Power Corp. (NYSE: SMR), and Nano Nuclear Energy Inc. (NASDAQ: NNE) climbing 14%, 13%, and 9%, respectively.

Dollar General Corp. (NYSE: DG) led S&P 500 gainers, soaring 12% after posting stronger-than-expected earnings and upbeat guidance, reaching its highest level since August 2024. Salesforce Inc. (NASDAQ: CRM) added nearly 4% following positive results.

Not all earnings landed well. S nowflake Inc. (NYSE: SNOW) fell 11% as its growth slowed in the third quarter, while The Kroger Co. (NYSE: KR) dropped 4.4%.

On the downside among megacaps, Intel Corp. (NASDAQ: INTC) slid nearly 7% after an eight-session, 30% rally.

In crypto and commodities, Bitcoin (CRYPTO: BTC) slipped 1.2% to $92,400 after two days of gains, while gold inched 0.2% higher to $4,210 per ounce, extending its year-to-date rally to 60%.

Thursday’s Performance In Major US Indices, ETFs

Major IndicesPrice%• Russell 20002,535.451.0%• S&P 5006,851.090.0%• Dow Jones47,877.51-0.1%• Nasdaq 10025,561.82-0.2%Updated by 1:00 p.m. ET

According to Benzinga Pro data:

- The Vanguard S&P 500 ETF (NYSE: VOO) flattened at $628.66.

- The SPDR Dow Jones Industrial Average (NYSE: DIA) inched 0.1% down to $479.15.

- The tech-heavy Invesco QQQ Trust Series (NASDAQ: QQQ) eased 0.2% to $621.84.

- The iShares Russell 2000 ETF (NYSE: IWM) rallied 1% to $252.08.

- The Industrial Select Sector SPDR Fund (NYSE: XLI) outperformed, up 0.6%; the Health Care Select Sector SPDR Fund (NYSE: XLV) lagged, down 0.7%.

Russell 1000’s Top 5 Gainers And Fallers On Thursday

Stock Name % ChangeDollar General Corp.12.64%Sandisk Corp. (NASDAQ: SNDK)9.52%GE Vernova Inc. (NYSE: GEV)5.89%AppLovin Corp.(NASDAQ: APP)5.17%Corning Inc. (NYSE: GLW)4.03%Stock Name% ChangeIntel Corp.-6.52%Wynn Resorts Ltd. (NASDAQ: WYNN)-5.90%Albemarle Corp. (NYSE: ALB)-4.74%LyondellBasell Industries(NYSE: LYB)-4.45%The Kroger Co-4.31%

Small-cap stocks tracked by the Russell 2000 surged to fresh record highs Thursday as investors piled into the most rate-sensitive corners of the market ahead of next week's widely expected Federal Reserve rate cut.

Traders see almost no doubt the Fed will deliver a third straight 25-basis-point reduction, with futures assigning the move a nearly 90% probability.

Expectations for Fed cuts stretch well through 2026, with markets fully pricing in two additional cuts by June next year and assigning nearly 50% odds to a third by year-end.

By 12:50 p.m. in New York, the Russell 2000 was up 1% at 2,535, just shy of its late-October record of 2,540. Large caps continued to lag, with the S&P 500 flat and both the Nasdaq 100 and Dow Jones slipping slightly.

One standout theme came from nuclear-energy stocks, which rallied sharply after **Nvidia Corp.** (NASDAQ: NVDA) CEO **Jensen Huang** said nuclear power will be essential to meet the massive electricity needs of AI data centers.

The **VanEck Uranium and Nuclear ETF** (NYSE: NLR) jumped more than 4% on the day — its strongest session since late October — and has now risen in seven of the past eight trading days, gaining 14% over that stretch.

Individual names followed suit, with **OKLO Inc.** (NYSE: OKLO), **NuScale Power Corp.** (NYSE: SMR), and **Nano Nuclear Energy Inc**. (NASDAQ: NNE) climbing 14%, 13%, and 9%, respectively.

**Dollar General Corp**. (NYSE: DG) led S&P 500 gainers, soaring 12% after posting stronger-than-expected earnings and upbeat guidance, reaching its highest level since August 2024. **Salesforce Inc.** (NASDAQ: CRM) added nearly 4% following positive results.

Not all earnings landed well. S **nowflake Inc.** (NYSE: SNOW) fell 11% as its growth slowed in the third quarter, while **The** **Kroger Co**. (NYSE: KR) dropped 4.4%.

On the downside among megacaps, **Intel Corp.** (NASDAQ: INTC) slid nearly 7% after an eight-session, 30% rally.

In crypto and commodities, **Bitcoin** (CRYPTO: BTC) slipped 1.2% to $92,400 after two days of gains, while gold inched 0.2% higher to $4,210 per ounce, extending its year-to-date rally to 60%.

## Thursday’s Performance In Major US Indices, ETFs

**Major Indices****Price****%**• Russell 20002,535.451.0%• S&P 5006,851.090.0%• Dow Jones47,877.51-0.1%• Nasdaq 10025,561.82-0.2%_Updated by 1:00 p.m. ET_

**According to** **Benzinga Pro** **data:**

- The **Vanguard S&P 500 ETF** (NYSE: VOO) flattened at $628.66.
- The **SPDR Dow Jones Industrial Average** (NYSE: DIA) inched 0.1% down to $479.15.
- The tech-heavy **Invesco QQQ Trust Series** (NASDAQ: QQQ) eased 0.2% to $621.84.
- The **iShares Russell 2000 ETF** (NYSE: IWM) rallied 1% to $252.08.
- The **Industrial** **Select Sector SPDR Fund** (NYSE: XLI) outperformed, up 0.6%; the **Health Care Select Sector SPDR Fund** (NYSE: XLV) lagged, down 0.7%.

## Russell 1000’s Top 5 Gainers And Fallers On Thursday

Stock Name % Change**Dollar General Corp.****12.64%****Sandisk Corp.** (NASDAQ: SNDK)**9.52%****GE Vernova Inc.** (NYSE: GEV)**5.89%****AppLovin Corp.**(NASDAQ: APP)**5.17%****Corning Inc.** (NYSE: GLW)**4.03%**Stock Name% Change**Intel Corp.****-6.52%****Wynn Resorts Ltd**. (NASDAQ: WYNN)**-5.90%****Albemarle Corp**. (NYSE: ALB)**-4.74%****LyondellBasell Industries**(NYSE: LYB)**-4.45%****The Kroger Co****-4.31%**

<p>Small-cap stocks tracked by the Russell 2000 surged to fresh record highs Thursday as investors piled into the most rate-sensitive corners of the market ahead of next week's widely expected <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/12/49212344/interest-rate-expectations-forecasts-2026-polymarket-bank-of-america-goldman-sachs-kevin-hassett-fed-chair-dovish">Federal Reserve rate cut.</a></p>



<p>Traders see almost no doubt the Fed will deliver a third straight 25-basis-point reduction, with futures assigning the move a nearly 90% probability. </p>



<p>Expectations for Fed cuts stretch well through 2026, with markets fully pricing in two additional cuts by June next year and assigning nearly 50% odds to a third by year-end.</p>



<p>By 12:50 p.m. in New York, the Russell 2000 was up 1% at 2,535, just shy of its late-October record of 2,540. Large caps continued to lag, with the S&amp;P 500 flat and both the Nasdaq 100 and Dow Jones slipping slightly.</p>



<p>One standout theme came from nuclear-energy stocks, which rallied sharply after <strong>Nvidia Corp.</strong> <a class="ticker-link" data-ticker="NVDA" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/NVDA" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NVDA">NVDA</a>)</a> CEO <strong>Jensen Huang</strong> said nuclear power will be essential to meet the massive electricity needs of AI data centers. </p>



<p>The <strong>VanEck Uranium and Nuclear ETF </strong><a class="ticker-link" data-ticker="NLR" data-exchange="ARCA" href="https://www.benzinga.com/quote/NLR" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/NLR">NLR</a>)</a> jumped more than 4% on the day — its strongest session since late October — and has now risen in seven of the past eight trading days, gaining 14% over that stretch.</p>



<p>Individual names followed suit, with <strong>OKLO Inc.</strong> <a class="ticker-link" data-ticker="OKLO" data-exchange="NYSE" href="https://www.benzinga.com/quote/OKLO" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OKLO">OKLO</a>)</a>, <strong>NuScale Power Corp. </strong><a class="ticker-link" data-ticker="SMR" data-exchange="NYSE" href="https://www.benzinga.com/quote/SMR" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SMR">SMR</a>)</a>, and <strong>Nano Nuclear Energy Inc</strong>. <a class="ticker-link" data-ticker="NNE" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/NNE" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NNE">NNE</a>)</a> climbing 14%, 13%, and 9%, respectively.</p>



<p><strong>Dollar General Corp</strong>. <a class="ticker-link" data-ticker="DG" data-exchange="NYSE" href="https://www.benzinga.com/quote/DG" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DG">DG</a>)</a> led S&amp;P 500 gainers, soaring 12% after posting stronger-than-expected earnings and upbeat guidance, reaching its highest level since August 2024. <strong>Salesforce Inc.</strong> <a class="ticker-link" data-ticker="CRM" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/CRM" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CRM">CRM</a>)</a> added nearly 4% following positive results.</p>



<p>Not all earnings landed well. S<strong>nowflake Inc. </strong><a class="ticker-link" data-ticker="SNOW" data-exchange="NYSE" href="https://www.benzinga.com/quote/SNOW" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/SNOW">SNOW</a>)</a> fell 11% as its growth slowed in the third quarter, while <strong>The</strong> <strong>Kroger Co</strong>. <a class="ticker-link" data-ticker="KR" data-exchange="NYSE" href="https://www.benzinga.com/quote/KR" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/KR">KR</a>)</a> dropped 4.4%.</p>



<p>On the downside among megacaps, <strong>Intel Corp. </strong><a class="ticker-link" data-ticker="INTC" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/INTC" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/INTC">INTC</a>)</a> slid nearly 7% after an eight-session, 30% rally.</p>



<p>In crypto and commodities, <strong>Bitcoin</strong> <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> slipped 1.2% to $92,400 after two days of gains, while gold inched 0.2% higher to $4,210 per ounce, extending its year-to-date rally to 60%.</p>



<h2 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td><strong>Major Indices</strong></td><td><strong>Price</strong></td><td><strong>%</strong></td></tr><tr><td>• Russell 2000</td><td>2,535.45</td><td>1.0%</td></tr><tr><td>• S&amp;P 500</td><td>6,851.09</td><td>0.0%</td></tr><tr><td>• Dow Jones</td><td>47,877.51</td><td>-0.1%</td></tr><tr><td>• Nasdaq 100</td><td>25,561.82</td><td>-0.2%</td></tr></tbody></table><figcaption class="wp-element-caption"><em>Updated by 1:00 p.m. ET</em></figcaption></figure>



<p><strong>According to&nbsp;</strong><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1"><strong>Benzinga Pro</strong></a><strong>&nbsp;data:</strong></p>



<ul class="wp-block-list">
<li>The&nbsp;<strong>Vanguard S&amp;P 500 ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) flattened at $628.66.</li>



<li>The&nbsp;<strong>SPDR Dow Jones Industrial Average</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) inched 0.1% down to $479.15.</li>



<li>The tech-heavy&nbsp;<strong>Invesco QQQ Trust Series</strong>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;eased 0.2% to $621.84.</li>



<li>The&nbsp;<strong>iShares Russell 2000 ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) rallied 1% to $252.08.</li>



<li>The&nbsp;<strong>Industrial</strong>&nbsp;<strong>Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLI">XLI</a>) outperformed, up 0.6%; the&nbsp;<strong>Health Care&nbsp;Select Sector SPDR Fund</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLV">XLV</a>) lagged, down 0.7%.</li>
</ul>



<h2 class="wp-block-heading">Russell 1000&#8217;s Top 5 Gainers And Fallers On Thursday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name </th><th>% Change</th></tr></thead><tbody><tr><td><strong>Dollar General Corp.</strong> </td><td><strong>12.64%</strong></td></tr><tr><td><strong>Sandisk Corp.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/SNDK">SNDK</a>)</td><td><strong>9.52%</strong></td></tr><tr><td><strong>GE Vernova Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GEV">GEV</a>)</td><td><strong>5.89%</strong></td></tr><tr><td><strong>AppLovin Corp. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/APP">APP</a>)</td><td><strong>5.17%</strong></td></tr><tr><td><strong>Corning Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/GLW">GLW</a>)</td><td><strong>4.03%</strong></td></tr></tbody></table></figure>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td><strong>Intel Corp.</strong></td><td><strong>-6.52%</strong></td></tr><tr><td><strong>Wynn Resorts Ltd</strong>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WYNN">WYNN</a>)</td><td><strong>-5.90%</strong></td></tr><tr><td><strong>Albemarle Corp</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALB">ALB</a>)</td><td><strong>-4.74%</strong></td></tr><tr><td><strong>LyondellBasell Industries </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/LYB">LYB</a>)</td><td><strong>-4.45%</strong></td></tr><tr><td><strong>The Kroger Co</strong></td><td><strong>-4.31%</strong></td></tr></tbody></table></figure>



<p><strong>Read Next:</strong></p>



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/12/49197030/transportation-stocks-see-strongest-rally-since-2020-heres-why"><strong>Transportation Stocks See Strongest Rally Since 2020: Here&#8217;s Why</strong></a></li>
</ul>



<p><em>Image created using artificial intelligence via Midjourney.</em></p>

Metadata

Author:

Piero Cingari

Image URL:

https://cdn.benzinga.com/files/imagecache/250x187xUP/images/story/2025/12/04/wall-street-ai4.png

Tickers:

$BTC, ALB, APP, CRM, DG, DIA, GEV, GLW, INTC, IWM, KR, LYB, NLR, NNE, NVDA, OKLO, QQQ, SMR, SNDK, SNOW, VOO, WYNN, XLB, XLI, XLV

Updated At:

December 04, 2025 at 2:38 PM

Benzinga Channels:

Equities, Macro Economic Events, Broad U.S. Equity ETFs, Econ #s, Top Stories, Economics, ETFs

Benzinga Tags:

Stories That Matter

Teaser:

Small-cap stocks tracked by the Russell 2000 surged to fresh record highs Thursday as investors piled into the most rate-sensitive corners of the market ahead of next week's widely expected Federal

Benzinga Stocks:

$BTC, ALB (NYSE), APP (NASDAQ), CRM (NYSE), DG (NYSE), DIA (ARCA), GEV (NYSE), GLW (NYSE), INTC (NASDAQ), IWM (ARCA), KR (NYSE), LYB (NYSE), NLR (ARCA), NNE (NASDAQ), NVDA (NASDAQ), OKLO (NYSE), QQQ (NASDAQ), SMR (NYSE), SNDK (NASDAQ), SNOW (NYSE), VOO (ARCA), WYNN (NASDAQ), XLB (ARCA), XLI (ARCA), XLV (ARCA)

Benzinga Article ID:

49216858