Overview
- Amazon rose about 4% after OpenAI agreed to buy $38 billion in AWS cloud capacity, with OpenAI citing the need for massive, reliable compute using Nvidia chips.
- U.S. stocks ended mixed on Nov. 3, with the S&P 500 up 0.18%, the Nasdaq up 0.46% and the Dow down 0.46%, reflecting narrow leadership from big tech.
- After breaching 4,200 for the first time, South Korea’s KOSPI fell around 1.6% late Tuesday morning as foreigners and institutions took profits, with Samsung, SK hynix and major shipbuilders retreating.
- Nvidia gained after President Donald Trump said the firm’s most advanced chips would be reserved for U.S. companies and kept out of China, while reports noted export licenses to supply the UAE.
- The Federal Reserve outlook grew murkier due to a data blackout from the government shutdown and split commentary from officials, as Asian markets mostly eased and investors awaited the RBA decision.