Nvidia CEO Jensen Huang expressed confidence that global collaboration in science and technology will persist, even amid potential tighter export controls from the incoming Trump administration. Huang on Global Cooperation Despite the Trump administration’s previous restrictions on exporting US technology to China, Huang believes international collaboration remains essential. “Open science and global cooperation across math and science have been the foundation of societal and scientific advancements for a very long time,” Huang stated during a media session in Hong Kong. He emphasized Nvidia's commitment to balancing compliance with laws and policies while continuing to advance technology and serve customers globally. The Age of AI During a speech at the Hong Kong University of Science and Technology (HKUST) , Huang declared, “The age of AI has started — a new computing era that will impact every industry and every field of science.” Highlighting Nvidia’s innovations, he describe
Global markets ended the week on a strong note with significant stock gains and declining US Treasury yields, as investors brace for President-elect Donald Trump's policies, which are expected to include tariffs, tax cuts, and deregulation. Meanwhile, Bitcoin surged near the historic US$100,000 mark.
Market Highlights
US Stocks
- Wall Street Performance:
- Dow Jones: +0.97% to 44,296.51
- S&P 500: +0.35% to 5,969.34
- Nasdaq Composite: +0.16% to 19,003.65
- Sector Movements: Gains were led by industrials, consumer discretionary, financials, and consumer staples, while communication services, utilities, and technology saw losses.
- Key Stock Movement: Nvidia fell 3.2% despite strong earnings due to disappointing sales forecasts.
Global Indices
- Europe: The Stoxx 600 gained 1%, snapping a four-week losing streak.
- MSCI Global Stocks: Up 0.33% to 854.22, with a weekly gain of 1.4%.
Treasury and Currency Markets
- US Yields: The benchmark 10-year Treasury yield slipped 1.4 basis points to 4.418% as markets reassess future Fed rate cuts amidst potentially inflationary Trump policies.
- Fed Rate Cut Odds: A 53% probability of a 25-basis-point rate cut in December.
- Dollar Gains: The dollar index rose 0.43% to 107.52, while the euro dropped to a two-year low of US$1.0414 after weak eurozone manufacturing data.
Commodities
- Bitcoin: Climbed 1.33% to US$99,384, driven by optimism about Trump’s lighter regulatory approach.
- Oil:
- Brent Crude: +1.3% to US$75.17
- WTI Crude: +1.6% to US$71.24
- Gains fueled by the intensifying Russia-Ukraine conflict.
- Gold:
- Spot gold rose 1.37% to US$2,706.39, marking its highest price in two weeks and its biggest weekly gain in over a year.
Economic Data
- US Manufacturing: S&P Global’s US manufacturing gauge rose to 55.3, the highest since April 2022, signaling robust economic activity.
- Eurozone Manufacturing: Fell to a 10-month low of 48.1, reflecting continued economic struggles.
Outlook
Markets are closely monitoring Trump’s policy appointments and potential fiscal moves, including his Treasury secretary pick. While optimism remains high, risks such as inflation resurgence, tariffs, and geopolitical tensions could impact investor sentiment in the weeks ahead.
Conclusion: A strong week for stocks and commodities reflects investor optimism about growth under the incoming Trump administration, even as uncertainties loom over inflation and policy decisions.
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