Stock Market Summary – December 02, 2025

Google’s shares are surging in the stock market due to a perceived advantage over OpenAI, Nvidia, and Microsoft in the AI race. This quarter’s stock market performance showed Google and its chip partner Broadcom making significant gains, whereas Nvidia and Microsoft, proxies for the private OpenAI, underperformed. Market strategists highlight the increased valuation of Google’s Gemini AI model stocks against the decreased valuation of OpenAI’s ChatGPT model stocks. Alphabet, Google’s parent company, has seen a 66% rally in shares this year.

President Donald Trump’s tariffs could end up decreasing domestic employment according to corporate executives and economic forecasters. The tariffs imposed on US imports could increase business operating costs and cause companies to cut staff numbers. The Institute for Supply Management’s November survey of factory conditions reports increased concerns among respondents. The survey’s employment gauge dropped 2 points to 44%, signalling a softening labor market.

The National Retail Federation reported that 202.9 million US consumers shopped during the five-day Thanksgiving weekend. This turnout was higher than the previous record of 200.4 million shoppers in 2023. Despite layoffs at major companies, solid retail sales data suggests consumers continue to spend.

In the tech sector, Apple has announced a major reshuffle in its AI efforts, with John Giannandrea stepping down as head of artificial intelligence. He will be replaced by Microsoft and Google veteran Amar Subramanya. Meanwhile, Nvidia shares surged by 1% after buying $2 billion of Synopsys stock to accelerate computing and AI engineering work.

The stocks of Instacart’s parent company, Maplebear, fell by 4% as Amazon is testing “ultra-fast” delivery services. By contrast, shares of Boeing climbed by 8% after it won a $104.4 million US Navy contract for repairing aircraft displays. The aerospace giant also issued a positive cash flow forecast for 2026.

Lastly, Bitcoin is trading at $91,765.96, up 7.4% on the day, following a steep drop-off earlier in the week. However, the cryptocurrency market could plunge even further if the so-called “crypto winter” sets in.

This information should not be considered investment advice. Always consult with a financial advisor before making any investment decisions.