GoAI Market Morning Wrap - 25th Nov

Stock Market

On Monday (November 24), the three major U.S. indices rebounded across the board.

 

At the close, the Nasdaq Composite rose 2.69% to 22,872.01, marking its largest single-day gain since May; the Dow Jones Industrial Average rose 0.44% to 46,448.27; the S&P 500 rose 1.55% to 6,705.12.

 

The "Magnificent Seven" stocks all advanced, with Google up over 6% as investors grew increasingly optimistic about the company's leadership in artificial intelligence—its latest AI model, Gemini 3, released last week, received widespread praise in the industry.

 

Enthusiasm for Google stock spilled over to other names, with chipmaker Broadcom up over 11%, Micron Technology up nearly 8%, and AMD and Lam Research up over 5%; in software, AppLovin rose over 6% and Palantir about 5%.

 

Melissa Brown, Managing Director of Investment Decision Research at SimCorp, commented, "This is certainly good news for Alphabet and its investors, but whenever one stock leads the entire market higher, it always makes me a bit worried."

 

"Because we may not be seeing an overall market improvement," Brown added. "In my view, this doesn't seem sufficient to serve as sustainable momentum to drive the market higher in the coming days."

 

Earlier in the session, Fed Governor Christopher Waller said he favors a rate cut in December. On Friday, New York Fed President John Williams expressed a similar view.

 

CME Group's "FedWatch" tool shows the market now prices in an 81% probability of a 25 basis-point cut in December.

Global Hotspots

Trump Signs Executive Order Launching AI "Genesis Plan"  

On November 24 local time, the White House released a statement saying President Trump signed an executive order launching a new national initiative called the "Genesis Plan" to use artificial intelligence (AI) to transform the way scientific research is conducted and accelerate scientific discovery.

 

The statement said the order directs the Department of Energy to create an AI experimentation platform that integrates U.S. supercomputers and unique data assets to generate scientific foundation models and support robotics labs.

 

U.S. Bureau of Economic Analysis Cancels Release of Q3 GDP Preliminary Report  

 

The U.S. Bureau of Economic Analysis announced the cancellation of its preliminary release plan for the third-quarter U.S. gross domestic product (GDP) estimate. The data was originally scheduled for October 30 but was delayed due to the federal government shutdown.

 

The PCE price index, a key inflation indicator watched by the Fed, along with income and spending reports, will be released at 10 a.m. local time in Washington on December 5.

 

UBS: Fed's Next Meeting Timing "Awkward" – Could Delay for Data  

 

UBS noted that the Fed's December FOMC meeting faces an "awkward" timing issue: it will convene before two key employment reports are released, which are exactly the core data for deciding on a rate cut. This has sparked market discussion on a possibility: whether the Fed might push back its originally scheduled December 10 meeting by a week to have the critical jobs data in hand before deciding.

 

ECB President Lagarde: Embracing AI Can Still Give Europe a Latecomer Advantage  

 

ECB President Christine Lagarde said the European economy should embrace artificial intelligence and remove any barriers that might hinder its adoption to avoid missing out on the technology's benefits. "If we are indeed on this path – and I believe we are – Europe must reposition accordingly," she emphasized on Monday.

 

"We must clear away all obstacles to embracing this transformation. Otherwise, we will miss the wave of AI applications and jeopardize Europe's future." Lagarde said the EU should not repeat past mistakes. She added that by rapidly adopting and intelligently applying AI technology, "the latecomer advantage can still be turned into a competitive edge."

Company News

Amazon to Invest Up to $50 Billion to Expand AI Capabilities for U.S. Government Customers  

 

The statement shows Amazon will invest up to $50 billion to expand Amazon AWS AI and supercomputing capabilities for U.S. government customers.

 

The investment will begin in 2026 and will build data centers using advanced compute and networking technologies in AWS Top Secret, AWS Secret, and AWS GovCloud (US) Regions, adding nearly 1.3 gigawatts of AI and supercomputing capacity.

 

Musk Says He Will Be "Deeply Involved" in Tesla Chip Design  

 

Tesla CEO Elon Musk posted on the social platform X recently that he will personally be "deeply involved" in Tesla's AI chip design, declaring his goal is "to put a new chip into mass production every year."

 

U.S. Banks Report $79.3 Billion in Profits for Q3 2025, Up 13.5% from Previous Quarter  

 

The Federal Deposit Insurance Corporation's quarterly report shows U.S. banks achieved comprehensive profitability, with unrealized losses down 14.7% quarter-over-quarter. U.S. banks reported $79.3 billion in profits for Q3 2025, up 13.5% from the previous quarter.

 

Hesai Releases Self-Developed RISC-V Lidar Master Control Chip Fermi C500  

 

Hesai Technology held its 2025 Technology Open Day at the Hesai Maxwell Global R&D and Manufacturing Center in Shanghai. Hesai released the Fermi C500, a high-performance intelligent master control chip dedicated to lidar based on the RISC-V architecture.

Forex & Commodities

International oil prices rose on November 24. At the close, NYMEX WTI crude futures for the front-month contract rose $0.83 to $58.89 per barrel, up 1.43%.

 

COMEX gold futures for the front-month contract rose $54.30, or 1.33%, to $4,133.8 per ounce.

 

At Monday's New York close, the ICE dollar index fell 0.03% to 100.150.

Key Events

Saudi Aramco Plans to Sell Energy Terminal Assets to Strengthen Cash Flow Amid Weak Oil Prices  

 

People familiar with the matter said Saudi Arabian Oil Co. (Saudi Aramco) is considering raising tens of billions of dollars through a series of asset sales, which could become the company's most significant disposal plan to date. As part of the plan, Aramco is weighing the sale of stakes in its crude export and storage terminals.

 

They said Aramco has asked several banks to participate in feasibility studies for the related projects, and the sales could exceed $10 billion.

Cryptocurrency

Bitcoin +2.33% over 24h to $88,022.74.  

 

Ethereum (ETH-USD) +6.25% to $2,936.00.  

 

XRP (XRP-USD) +10.29%, BNB (BNB-USD) +2.84%, and Solana (SOL-USD) +6.40%.  

 

Dogecoin (DOGE-USD) +5.23%, and Cardano (ADA-USD) +5.29%.

Key Events

$80,000 Bitcoin put options now the most popular investment choice  

 

A week ago, CoinDesk highlighted the bearish shift in the Bitcoin options market, with $85,000 puts overtaking $140,000 calls as the most popular bet on crypto exchange Deribit.  

 

Currently, the $80,000 put leads with open interest just over $2 billion, while the $85,000 put ranks second with $1.97 billion in open interest. Meanwhile, the $140,000 call's open interest has fallen to $1.56 billion.