Stock Summary:
The Dow Jones Industrial Average showed an increase of 11.5% this year. The S&P 500 gained about 16% while the Nasdaq Composite demonstrated a rise of over 20%. The major U.S. averages, driven mainly by AI-related stocks, have seen a prosperous year with positive sentiment towards high-performing technology stocks, even though they partially lost some gains this month.
Several AI stocks have shown a comeback this November, notably Alphabet, whose shares surged more than 5%, following last week’s gain of over 8%, due to the company’s successful launch of Gemini 3 and the Ironwood AI chip. This raised the Alphabet’s market cap above that of Microsoft.
Top stock performers included CVS Health, which had a year-to-date gain of over 78%, putting its forward price-to-earnings ratio at approximately 11. Other strong performers were chipmaker Micron Technology, health care giants AbbVie and Medtronic, gold miner Newmont and power generation company Vistra. Software maker Workday, however, saw its shares decrease by nearly 8%.
On the European market, Puma shares had a significant rise, up 18.9%, following reports that China’s Anta Sports was considering a buy-out bid for the company. Other European companies that performed well included defense stocks Rheinmetall and Saab.
Stock Losers:
As for the stocks that lost ground, Workday shares fell nearly 8% due to analysts lowering their price targets following the company’s disappointing Q3 earnings report. NVIDIA also saw a 3% drop in its stocks after a report suggested that Meta could opt to use Google’s Tensor Processing Units for its data centers instead of NVIDIA’s.
Global Market News:
Global markets this week have been boosted by rising expectations that the U.S. Federal Reserve will cut interest rates when it next meets on Dec. 9-10. In Europe, investors anticipate a hike in UK government bond yields following the release of the country’s Autumn Budget. The yield on the benchmark 10-year gilt rose by more than 2 basis points. In Asia, markets tracked Wall Street gains, while India’s benchmark indexes hit a record high.
Sources:
Putin breaks his silence on Ukraine peace plan, says Moscow ready for ‘serious’ talks
How Google put together the pieces for its AI comeback
These stocks are outperforming this year and are cheap heading into 2026
Saba Capital activist Boaz Weinstein calls for removal of Baillie Gifford-run tech investment trust’s entire board
Puma shares pop 18% after report China’s Anta Sports is looking to buy the sportswear giant
Chinese giants rush to pledge millions after Hong Kong’s deadliest fire since 1948 kills 55
CNBC Daily Open: Thanksgiving cheer comes a day early for U.S. markets
European markets close higher; Puma shares jump more than 18%
CNBC Daily Open: An early Thanksgiving celebration in U.S. markets
Workday shares sink on subscription revenue guidance concerns