U.S. stocks climbed on Monday, Nov. 24, with the S&P 500 and the Nasdaq composite both moving higher as tech companies rallied.
Trump is deciding whether Nvidia can sell advanced artificial intelligence chips to China again, which could boost business.
China launched a global mining partnership with 19 countries to strengthen its control of rare- earth resources as the U.S. is trying to build its own supply chain.
On Tuesday, Nov. 25, the S&P 500 rose 0.9%, the Dow Jones Industrial Average rose 1.4% and the Nasdaq was up 0.7%, sup- ported by hopes for an upcoming interest rate cut.
Google was outperformed compared to its peers in the AI race. The company is positioning itself uniquely by having its own AI chips, to bring strong core revenue growth from search and cloud. This vertically integrated model has boosted sentiment that Google LLC can monetize AI at a scale and potentially gain share against rivals like Nvidia and Advanced Micro Device Inc., or AMD.
On Wednesday, Nov. 26, the S&P 500 rose about 0.7%, the Nasdaq gained 0.8% and the Dow climbed 0.7%, extending the market’s recent tech-led rally.
U.S. equities were mixed as investors reacted to key news. U.S. mortgage applications jumped to the highest level since early 2023, despite the 30-year mortgage rate edging up to 6.4%, signaling pockets of resilient housing demand.
In Asia, Taiwanese President Lai Ching-te pledged an additional $40 billion in defense spending amid rising tensions with China. In Japan, Prime Minister Takaichi Sanae’s administration plans to issue at least 11.5 trillion Japanese yen in new bonds to fund its eco- nomic package. It raises concerns over long-term fiscal sustainability even as tax revenues hit a re- cord ¥80.7 trillion.
U.S. markets were closed on Thursday for Thanksgiving.
On Friday, Nov. 28, U.S. stock indexes rose modestly. The Dow climbed 0.6%, the S&P 500 gained 0.5% and Nasdaq rose 0.7%.
Silver surged to a fresh record high of $56.78 per ounce, with a 6.1% jump on the day and 76% year-to-date, driven by expectations of a near-term interest-rate cut from the Federal Reserve and tight supply amid strong demand.
