Investment Review №334. Customer return

S&P 500 Index from November 19 to November 25, 2025

Key Events on the US Stock Market

S&P 500

19.11.2025 — 6642

  • Nvidia (NVDA) reported Q3 FY26 results, beating expectations across key financial metrics. The positive surprise was driven by continued growth in the Data Center segment and strong sales in the Networking sub‑segment. 
  • Shares of Target (TGT) fell to their lowest level since 2019 following the earnings report. TGT has lost two‑thirds of its market capitalization over the past four years, as the retailer has posted revenue declines for four consecutive quarters.

 

20.11.2025 — ▼6538

  • September Labor Market Report. The unemployment rate unexpectedly rose to 4.44% (consensus: 4.3%), while real employment increased by 119,000 (consensus: 62,000).

 

25.11.2025 — ▲6765

  • Alphabet Inc. (GOOGL) announced plans to begin selling its Tensor Processing Units (TPUs). Early estimates suggest the new TPUs may offer superior computing power compared with Nvidia’s chips.
  • The September PPI report confirmed that inflation remained subdued. Headline PPI increased 0.31% MoM (consensus: 0.3%), while core PPI rose 0.1% MoM (consensus: 0.2%).
  • Total Retail Sales for September rose 0.16% MoM (consensus: 0.4%), while the control group reading was -0.09% MoM, with expectations at 0.3% MoM.

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S&P Global ratings – “B+/B”, outlook “Positive”.

Ownership of securities and other financial instruments always involves risks: the cost of securities and other financial instruments may rise or fall. Past investment results do not guarantee future returns. In accordance with the legislation, the company does not guarantee or promise the profitability of investments in the future, does not guarantee the reliability of possible investments and the stability of the amount of possible income.

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