U.S. stocks hit fresh records as the S&P 500 nears 7,000 and Nvidia breaks above $204

Markets everywhere are going ￰0￱ across the globe are smashing records as three big events collide; Trump’s return to the trade spotlight, Nvidia’s monster run, and Jerome Powell’s next ￰1￱ futures barely moved Tuesday night, but it didn’t ￰2￱ damage was already done during the ￰3￱ S&P 500 climbed 0.2% and broke above 6,900 intraday for the first time, inching toward 7,000. The Dow Jones added 162 points, up 0.3%, and the Nasdaq Composite led the charge with a 0.8% jump. After-hours, Dow futures fell by 33 points, or 0.07%. The S&P 500 stayed ￰4￱ 100 futures ticked up 0.02%.

Asia rallies as Nvidia lifts chips, but Japan’s rally is razor thin Nvidia surged nearly 2% in overnight ￰5￱ chipmaker hit a fresh record above $204, as reported by ￰6￱ comes during an AI-fueled market surge, pushing Nvidia further into global ￰7￱ Japan’s massive rally is starting to look ￰8￱ Nikkei 225 spiked 2.17%, closing at 51,307.65, a new ￰9￱ here’s the catch—only 43 stocks in the index moved higher, according to Bloomberg. That’s the fewest number of gainers seen during a +1.7% ￰10￱ of the move came from two names: Advantest ￰11￱ ￰12￱ soared to its limit after raising its earnings ￰13￱ AI-chip test equipment maker, along with SoftBank, added 7,100 yen to the Nikkei this year, which is 60% of the index’s ￰14￱ NT ratio, which compares Nikkei to the broader Topix, hit a record high, underlining just how concentrated this move ￰15￱ Korea’s Kospi jumped 1.76%, lifted by techs, while the Kosdaq slipped 0.28%.

In China, the Shanghai Composite rose 0.69% to 4,015.83 and CSI 300 was up roughly 1%. Hong Kong was offline for ￰16￱ India, the Nifty 50 rose 0.50% to 26,064.70. Australia’s ASX 200 dropped 0.96% after consumer prices for Q3 came in at 3.2%, well above the 3% forecast. It’s the biggest gain in more than a year, the Australian Bureau of Statistics said ￰17￱ stalls, Europe cautious, Powell and earnings dominate Bitcoin is sitting just above $113,000, trying to escape the range it’s been stuck ￰18￱ bounced from $107,000 after Spot ETF netflows finally turned ￰19￱ inflows are still weak at less than 1,000 BTC/day, way below the 2,500+ BTC/day seen during previous ￰20￱ $111K level is holding as support, while $117K has turned into a wall of ￰21￱ all-time high is over $125,000, hit a few weeks ￰22￱ in the currency world, dollar-yen option volume is drying ￰23￱ from the Depository Trust & Clearing Corporation shows Monday’s volume was the lowest this month, and Tuesday didn’t do much ￰24￱ are sitting on their hands, waiting for the Bank of Japan’s decision Thursday, and of course, the Fed’s announcement later ￰25￱ is ￰26￱ stocks are set to open in the ￰27￱ is just under flat, Germany’s DAX seen down 0.4%, France’s CAC 40 off 0.16%, and Italy’s FTSE MIB dipping 0.12%, according to data from ￰28￱ are all watching for Powell’s ￰29￱ CNBC Fed Survey says 84% of traders expect another cut in December, and 54% see a third one in January.

They’re pricing in a total of 100 basis points of cuts by the end of 2026, which would drop the Fed funds rate to 3.2%. Earnings season is ￰30￱ Tech is on deck—Alphabet, Meta, and Microsoft are reporting after today’s ￰31￱ and Amazon follow tomorrow. Europe’s corporate calendar is just as loaded: Airbus, UBS, Banco Santander, Equinor, Deutsche Bank, BASF, Adidas, GSK, and Endesa will all release earnings ￰32￱ top of that, Spain will publish its GDP ￰33￱ $50 free to trade crypto when you sign up to Bybit now