Overview
- U.S. stocks rebounded Friday with the S&P 500 up 0.98%, the Dow up 1.08% and the Nasdaq 100 up 0.77%, while the 10-year Treasury yield fell to about 4.03%, a three-week low.
- Futures pricing put the probability of a December Federal Reserve cut near two-thirds, up from roughly one-third the prior day after Williams’ remarks.
- Major indexes remain off late-October peaks, with the S&P 500 and Nasdaq down about 4% and 7% respectively, as volatility stays elevated and investors question AI-driven valuations.
- Nvidia reported 62% revenue growth on AI demand, yet its shares and other AI leaders failed to sustain gains, highlighting valuation fatigue despite strong results.
- Risk signals stretched beyond U.S. stocks, with Bitcoin trading near $80,500 on heavy outflows and India’s Sensex and Nifty slipping as foreign investors sold and the rupee briefly crossed 89 per dollar ahead of Q2 GDP data on Nov. 28.