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Today’s Stock Market
November 20, 2025 at 2::00 p.m. EST
Yesterday the S&P 500 broke a four-day losing streak with tech stocks bouncing modestly ahead of Nvidia earnings. Price action often helps to feed narratives and the recent pullback within the AI complex has been like Thanksgiving meal for the “AI bubble” narrative. In some ways this lowered the bar for Nvidia, and not surprisingly the company at the center of the AI related growth had another beat and raise quarter. The stock was trading up >5% in the pre-market pulling the AI complex and global markets higher with it. In this morning’s note we said, “the numbers coming in strong was the easy part, the real challenge will be in holding the gains.”
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