Stock market recap: Nasdaq Composite and Nikkei 225 climb on tech optimism

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Global indexes

- S&P 500: 6,840.20 (+0.26%)

- Nasdaq Composite: 23,724.96 (+0.61%)

- Dow Jones Industrial Average: 47,562.87 (+0.086%)

- FTSE 100: 9,731.39 (+0.15%)

- Nikkei 225: 52,411.34 (+2.12%)

- Hang Seng Index: 26,158.36 (+0.97%)

- Shanghai Composite: 3,976.52 (+0.55%)

The pattern reflects a measured risk-on tone: U.S. tech leadership firmed, Europe clawed back after recent declines, and Asia benefited from incremental trade progress despite uneven macro readings.

U.S. markets

Wall Street enters November with earnings, AI build-outs and policy in focus. The “Magnificent Seven” remain center stage as investors gauge whether robust cash flows and AI investment plans can sustain premium valuations.

Optimism around de-escalating U.S.–China trade tensions—following a White House fact sheet outlining steps on export controls and supply-chain issues—has also helped stabilize risk appetite. With the Fed’s latest policy decision in the rearview, the key watch now is whether softer inflation and steady labor dynamics can keep financial conditions supportive without rekindling rate fears.

European markets

European equities nudged higher in cautious trade. The Stoxx 600 rose 0.3% to 573.57 after four straight down sessions, supported by selective strength in energy and autos.

Country moves were mixed: Germany’s DAX +0.6%, France’s CAC 40 +0.1% amid budget debates, and U.K. FTSE 100 +0.2%. Company headlines added texture: BP +1.2% after agreeing to sell U.S. shale stakes to Sixth Street for $1.5 billion; Renault +2.5% on plans to sell a 26.4% stake in its Brazilian unit to Geely; Ryanair −~2% as fare pressure tempered a 42% first-half profit jump. Investors also awaited regional manufacturing PMIs for evidence that activity is stabilizing into year-end.

Asian markets

Asian stocks ended broadly higher in thin dealings, with Japan closed for a holiday (last Nikkei 225 52,411.34, +2.12%).

Sentiment improved after the U.S. released details of a trade and economic understanding with China, including a pause on new rare-earth export controls and steps related to the semiconductor supply chain.

Shanghai Composite +0.55% to 3,976.52 despite a softer private manufacturing PMI (50.6, down from 51.2), while Hang Seng +0.97% to 26,158.36 as bank Q3 results suggested stabilization. Tech shares led regionally as investors leaned into AI and hardware beneficiaries of improved trade optics.

Summary conclusions

The market’s base case for November is steady growth, cooling inflation and constructive—if incremental—U.S.–China engagement, with AI spending as a durable earnings tailwind.

Near-term risks include a re-acceleration in inflation, any reversal in trade cooperation, and guidance resets from mega-caps after a strong October.

Key catalysts ahead: final waves of U.S. earnings, global PMIs, and any follow-through on the new trade framework. If data hold and policy remains steady, leadership from tech and quality cyclicals could persist into the year’s final weeks.

In an earlier report, we noted that Nvidia stock holds at $202 as Trump bans top-tier chip exports to China.

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