Your Weekly Market Wrap-Up

17th - 21st November 2025

Global Highlights

U.S. Markets

U.S. equity markets finished the week in the red despite some positive data and strong corporate earnings. NVIDIA reported strong revenue and upbeat guidance, yet the stock fell ~3% and pulled broader markets down. Markets were weighed down by concerns over elevated valuations and scepticism about whether the recent surge in AI-related spending will be sufficiently profitable.

European Markets

European equities fell amid worries about inflated AI valuations and U.S. rate uncertainty. On the economic data front, the services PMI rose slightly to an 18-month high of 53.1. However, the gauge for manufacturing fell to 49.7 from 50.0. UK inflation fell to 3.6% in October, signalling the possibility of further rate cuts if disinflation continues.

Asian Markets

Japanese equities dropped for the week, led by heavy losses in AI-related tech firms. Meanwhile, Chinese stock markets fell amid concerns over high valuations in AI stocks. Japan announced a ¥21.3 trillion ($135 billion USD) stimulus package to boost its economy, while China is contemplating new measures to support its struggling property market to prevent financial instability.

Weekly Spotlights

Most anticipated earnings report of the quarter, chipmaker NVIDIA, the largest company by capitalization in the S&P 500, reported record revenue last week that exceeded analysts’ expectations, driven by strong demand for its AI chips. The company also provided a healthy revenue forecast for the fourth quarter that surpassed consensus estimates. The market initially reacted favourably to the news at open, but sentiment turned negative later during the day, and NVIDIA finished 3% lower and pulled the major benchmarks down with it.

Market Performance

Weekly market performance by index
Index	Current Price	1 Week Return %
S&P 500	6,602.99	-1.95%
DJIA	46,245.41	-1.91%
Nasdaq	22,273.08	-2.74%
Nikkei 225	48,625.88	-3.15%
FTSE 100	9,539.71	-1.64%
Shanghai Composite	3,834.89	-3.90%
Sensex	85,231.92	0.79%
ADX Index	9,885.12	-0.33%
Gold	4,079.50	-0.36%
Brent Oil (Brent)	62.56	-2.84%

Outlook

While we remain constructive on the broader market environment, this is an opportune time to rebalance portfolios to better align with long-term strategic objectives. Alongside maintaining exposure to technology and AI-related opportunities, we suggest increasing allocations to U.S. large- and mid-cap equities, particularly within sectors such as health care and industrials. Adding selective emerging-market exposure can further enhance diversification, resilience, and long-term growth potential.

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Disclaimer

This commentary is provided for informational purposes only and does not constitute investment advice. For detailed insights, contact our investment team.