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Thursday, November 20

Noteworthy macro moves today: S&P 500 Index (US) +1.1%. Nasdaq 100 Index (US) +1.1%. Noteworthy US mega-cap moves today: NVIDIA Corp (NVDA) +5.0%. Alphabet Inc (GOOGL) +3.9%. Alphabet Inc (GOOG) +3.9%.

Global equity markets are trading higher amid strong earnings from Nvidia, which have alleviated concerns regarding an AI bubble and boosted investor sentiment across technology stocks. The S&P 500 and Nasdaq indices have both recorded gains of approximately 1.1%, reflecting positive market momentum.

In economic news, the U.S. Labor Department released a long-delayed jobs report indicating that nonfarm payrolls increased by 119,000 in September, surpassing expectations of a mere increase of 50,000 jobs, while the unemployment rate rose to 4.4%. This data is expected to influence Federal Reserve policy discussions as markets adjust their outlook on potential interest rate cuts.

Additionally, initial jobless claims fell to 220,000 for the week ending November 15th, suggesting stability in the labor market despite ongoing economic uncertainties stemming from recent government shutdowns and inflationary pressures affecting consumer spending patterns.

VanEck Semiconductor ETF (SMH) [+2.5%]
The VanEck Semiconductor ETF (SMH) has experienced a price increase of 2.5% in pre-market trading. Recent developments from the U.S. Commerce Department, which authorized the export of advanced semiconductors to G42 in the UAE and Humain in Saudi Arabia, may enhance international business opportunities for U.S. semiconductor firms. Additionally, a delay in the implementation of Trump's semiconductor tariff plan has been suggested, aligning with efforts to bolster domestic manufacturing while maintaining trade relations with China. Nvidia's strong third-quarter earnings report, revealing a significant revenue increase and an optimistic sales outlook, has further buoyed market sentiment within the technology sector. Notably, Nvidia's performance has positively influenced other semiconductor stocks, including Broadcom and Advanced Micro Devices, which are also experiencing upward movements. The Nasdaq 100 Index's rise of 1.12% reflects broader market trends that typically impact technology and semiconductor stocks.

SPDR S&P 500 ETF Trust (SPY) [+1.4%]
The SPDR S&P 500 ETF Trust (SPY) has experienced a price increase of 1.4% in pre-market trading, coinciding with positive sentiment on social media regarding its recent performance. The American Association of Individual Investors (AAII) reported an improved bull-bear spread, with a rise in bullish sentiment and a decrease in bearish sentiment. Notably, NVIDIA's robust earnings have significantly influenced market dynamics, contributing to gains in technology stocks and buoying the S&P 500 Index, which rose during Thursday's market hours. Among SPY's top holdings, NVIDIA, Microsoft, Amazon, Broadcom, and Google have shown notable upward movements, driven by strong earnings reports and positive outlooks. Additionally, discussions surrounding support and resistance levels for SPY indicate key points at 661 and 665. Overall, the combination of favorable earnings and market sentiment appears to be supporting SPY's current momentum.

NVDA | +4.7% | +226.7B
NVIDIA Corp | Semiconductors
NVIDIA Corp's stock price has increased significantly, reflecting a broader market rally. The company's recent earnings call revealed Q3 revenues of 57 billion, surpassing the consensus estimate of 54.9 billion. The compute segment experienced a year-over-year growth of 56%, driven by the ramp of the GB300, while networking sales more than doubled. Additionally, the H20 AI Chip generated 50 million in sales during Q3. CEO Jensen Huang emphasized strong demand for NVIDIA's GPUs, particularly in cloud computing, where installations are fully utilized. The company has also established a strategic relationship with OpenAI and received backing from the White House concerning export regulations. Revenue guidance for Q4 is projected between 63.7 billion and 66.3 billion, exceeding previous expectations. This combination of robust financial performance and positive market sentiment has contributed to the stock's upward movement.

EXAS | +18.0% | +3.4B
Exact Sciences Corp | Biotechnology
Exact Sciences Corp (EXAS) has experienced a notable surge in its stock price, attributed to Abbott Laboratories' announcement of a definitive agreement to acquire the company for $105 per share, totaling approximately $21 billion in equity value. The acquisition aims to bolster Abbott's cancer screening and precision oncology diagnostics capabilities, with Exact Sciences projected to generate over $3 billion in revenue this year. The transaction is expected to close in the second quarter of 2026, pending shareholder and regulatory approvals, and has been unanimously approved by both companies' boards. Social media discussions have intensified around this potential takeover, with reports indicating a significant increase in EXAS shares following news of the deal, alongside mentions of other cancer diagnostics companies experiencing price movements amid these rumors.

AVGO | +4.1% | +7.0B
Broadcom Inc | Semiconductors
Broadcom Inc's stock has increased notably, moving higher alongside the broader market. The stock is up significantly in pre-market trading, building on a previous session's rise, following a strong earnings report from Nvidia, which has positively impacted sentiment towards semiconductor stocks. Social media discussions reflect this trend, with mentions of Broadcom reaching an all-time high after Nvidia's performance. Additionally, institutional investors are favoring Broadcom alongside AMD, suggesting a favorable outlook within the semiconductor sector. Correlated market movements show Broadcom's stock rise coinciding with substantial gains in the tech sector, as reflected by the performance of the ProShares UltraPro QQQ and the S&P 500 Index.

DELL | +3.5% | +3.1B
Dell Technologies Inc | Technology Hardware, Storage & Peripherals
Dell Technologies Inc has experienced a price increase, moving higher alongside the broader market. The company has been maintained at a "Buy" rating by B of A Securities, with a revised price target of $160, down from $170, reflecting considerations around memory costs and margins ahead of its upcoming fiscal Q3 preview. Analysts remain optimistic about Dell's performance in the current market environment. Furthermore, Dell is set to announce its Q3 FY2026 earnings, with an estimated EPS of $2.39 and projected revenue of $27.3 billion, following a previous EPS of $2.15 and revenue of $24.4 billion. Concurrently, the stock has risen 2.7%, coinciding with a notable increase in the ProShares UltraPro QQQ and the Nasdaq 100 Index, suggesting a positive sentiment in the technology sector.

RKLB | +5.0% | +1.1B
Rocket Lab USA Inc | Aerospace & Defense
Rocket Lab USA Inc has experienced a notable price increase, aligning with broader market movements. The company announced a forthcoming launch of its "Follow My Speed" mission from its New Zealand facility, set to occur within 48 hours after completing a previous launch from Virginia. This mission, scheduled for November 20, 2025, will deploy a satellite for an undisclosed commercial client and marks Rocket Lab's 75th launch, surpassing its previous annual record. Social media discussions have highlighted Rocket Lab's growing prominence in the small-launch sector, with a user noting the upcoming 48-hour turnaround that would bring the company's total missions for 2025 to 18. Additionally, Bank of America raised its target price for Rocket Lab from 50 to 60, maintaining a "Buy" rating, which may have contributed to the stock's upward momentum.

WMT | +3.6% | +30.0B
Walmart Inc | Consumer Staples Merchandise Retail
Walmart Inc. reported its third-quarter results, revealing a GAAP EPS of $0.77, an increase from $0.57 in the prior year. Revenue reached $179.5 billion, reflecting a year-over-year increase of 5.8%, with comparable sales in Walmart U.S. rising by 4.5%. The company also reported strong e-commerce growth at 27%. Following these results, Walmart raised its fiscal year 2026 adjusted EPS guidance to a range of $2.58 to $2.63, up from $2.52 to $2.62. Additionally, Walmart plans to transfer its stock listing from the NYSE to Nasdaq on December 9, retaining its ticker symbol. Social media discussions highlighted the adjusted EPS of $0.62, which surpassed expectations, alongside revenue that exceeded forecasts. Despite the positive earnings report, some posts noted a drop in WMT's stock price during pre-market trading, leading to conversations about market reactions and consumer spending trends.

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