Overview
- S&P 500, Dow and Nasdaq closed higher Friday (about 1.0%, 1.1% and 0.8%), though all three finished the week lower after a tech-led selloff.
- Futures pricing now puts the probability of a December quarter-point cut in roughly the 57%–70% range, with the 10-year Treasury yield sliding to around 4.03%.
- Semiconductor shares led Friday’s rebound after weeks of pressure tied to AI valuation concerns, even as Nvidia’s strong sales failed to dispel bubble worries.
- Risk sentiment also improved on reports of early U.S. talks on allowing Nvidia’s H200 AI chips to be sold in China, a point not yet confirmed by officials.
- Bitcoin traded near $86,000 after a plunge toward about $80,500, on pace for its worst month since 2022, while Indian stocks opened firmer as investors look to Q2 GDP on Nov. 28 and progress on an India–US trade pact.