The combined market capitalization of the S&P 500 has surged back above the $60 trillion mark, reclaiming nearly all losses from early November and signaling renewed confidence across U.S. equities. According to S&P Global data, total market value reached $60.7 trillion on November 26, 2025, marking one of the strongest recoveries of the year.
A Sharp Reversal From November’s Pullback
The rebound follows a brief downturn earlier in the month, when the index dipped to around $58.3 trillion amid geopolitical tensions and rate-path uncertainty. That weakness proved temporary. Over the final two weeks of November, buyers stepped in aggressively, mirroring a pattern seen several times throughout 2025 after macro-driven pullbacks.
A Steady Climb Throughout 2025
Despite periods of volatility, the S&P 500’s overall trajectory this year has remained firmly upward. The index began 2025 near $54 trillion in market value before dipping to a yearly low of $44.3 trillion on April 8. From that point on, capital steadily rotated back into equities, pushing valuations higher month after month. By late summer, total market cap had cleared $57 trillion, with multiple record highs printed through September and October.
Positioning Into Year-End
With U.S. economic data stabilizing and earnings remaining resilient, analysts view the recent rebound as a sign that institutional sentiment is firming into the final month of 2025. If momentum holds, the S&P 500 could attempt another climb toward its October peak, keeping the index on track for one of its strongest annual performances in recent years.